Las Vegas Raiders Owner Mark Davis to Sell 15% Stake to New Investors

Las Vegas Raiders owner Mark Davis has agreed to sell a 15% stake in the franchise to Egon Durban, co-CEO of Silver Lake and chairman of the Endeavor Board, and Michael Meldman, chairman of Discovery Land Company. Each investor is set to acquire a 7.5% share, subject to approval by the NFL’s finance committee and a subsequent vote by at least 24 of the league’s 32 owners, expected during a special meeting in December.

This development follows the recent approval of former NFL quarterback Tom Brady’s acquisition of a 10% stake in the Raiders, alongside Knighthead Capital co-founder Tom Wagner. Brady’s involvement, formalised in October, includes a personal 5% share in the franchise.

The proposed sale to Durban and Meldman aligns with Davis’s strategy to diversify the team’s ownership and enhance its financial flexibility. The Raiders’ valuation has increased significantly since relocating from Oakland to Las Vegas, reflecting the franchise’s growing market presence.

However, the transaction requires Endeavor to divest from WME Sports’ football business, which represents NFL players, to comply with league regulations. This divestment is anticipated to occur within four months of the sale receiving the necessary approvals.

These ownership changes underscore a broader trend of high-profile investors entering the NFL, potentially influencing the league’s business dynamics and governance structures. The outcomes of these transactions will be closely monitored by stakeholders within the sports business community.

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