ATLANTA -- Tom Brady's purchase of a minority stake in the Las Vegas Raiders was approved by NFL team owners Tuesday.

The seven-time Super Bowl champion, who played 23 seasons with the New England Patriots and Tampa Bay Buccaneers, takes approximately 5% control of the Raiders. Brady needed to receive 24 of 32 votes at the league's annual fall meetings in Atlanta.

Former Raiders and Patriots defensive lineman Richard Seymour's purchase of a minority stake in the Raiders also was approved by owners Tuesday.

"I'm deeply grateful -- humbled and honored -- to become a NFL owner," Seymour posted to X. "This is the mission of a lifetime, and I accept it with both purpose and pride. With great opportunity comes great responsibility. And I pledge to be a worthy steward of our game -- and all it makes possible."

Brady's deal was initially agreed upon in May 2023, but it took owners 17 months to give their approval over concerns he was receiving too much of a discount from Raiders majority owner Mark Davis.

Brady's new job as a broadcaster with Fox also was an issue because it could represent a conflict of interest.

The NFL placed restrictions on Brady before the season to limit his access. He is not permitted to attend production meetings in person or virtually and may not have access to team facilities or players and coaching personnel. Brady may broadcast Raiders games. He also has to abide by the league constitution and bylaws that prohibit public criticism of officials and other clubs.

Brady also owns a minority stake in the WNBA's Las Vegas Aces, whose majority owner is also Davis.

Brady and Seymour are the third and fourth former NFL players to become owners after George Halas Sr. and Jerry Richardson.

The Associated Press contributed to this report.