Tom Brady's pending investment in the Las Vegas Raiders appears to have increased the valuation of the franchise.

The seven-time Super Bowl champion's ownership stake in the Raiders "was recently revised to increase the valuation on the team," according to Sportico's Eben Novy-Williams.

Novy-Williams wrote:

"In the last few months, the valuation on Brady's deal was raised to mirror the Raiders' valuation in an unrelated transaction from earlier in 2023, one source said. League staffers, lawyers and financial advisors continue to perform diligence on the Brady group's agreement, and there is no set timetable for resolution, which would still require ownership approval."

The news comes after some NFL owners expressed concern about the franchise's valuation, which was reported to be 70 percent below market value. Davis essentially offered Brady a share at a discounted price.

The Raiders are the NFL's sixth-most valuable team with a valuation of $6.2 billion, according to Forbes.

Sportico values the Raiders at $5.77 billion, but Novy-Williams wrote that "there is debt on the team and minority stakes typically sell at a discount, so the valuation in this deal is likely a good deal lower than that figure."

Brady's investment group in the Raiders also includes Knighthead Capital co-founder Tom Wagner. Wagner is "coordinating financing and investing alongside the quarterback," according to Novy-Williams.

Brady's group is aiming to buy a stake in the franchise worth a little more than 10 percent, per Novy-Williams. The future Hall of Famer would own around a seven percent stake.

Brady and Raiders owner Mark Davis revealed in May that they had agreed to a deal for the former quarterback to become a minority owner in the team. The two had already worked together with Brady's acquisition of a minority stake in the WNBA's Las Vegas Aces, which Davis also owns.

Brady's investment in the Raiders "remains under review," an NFL spokesperson told Novy-Williams. A three-fourths majority vote from league owners is required for any deal to be approved.