Finance 2 min read

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

image

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 Endeavor, 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 Durban to divest his interests in WME Sports, which represents NFL players, to comply with league regulations. This divestment is anticipated to occur within a month if the sale receives 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.

Join the free Ministry of Sport newsletter or become a MoS Member for all the latest news in sports business.

Similar Stories

logo
image
Finance 3 min read

NRLW Introduces Magic Round to Boost Regional Economies

The National Rugby League Women's (NRLW) competition is aiming to replicate the success...

image
Finance 2 min read

NBL and Wollemi Capital Secure Majority Stake in WNBL

The National Basketball League (NBL) and Wollemi Capital Group have finalised an agreement...

image
Finance 1 min read

Hawthorn Wins $1 Million McClelland Trophy in Season Finale

Hawthorn Football Club has clinched the McClelland Trophy, securing a $1 million prize...

View all

It's free to join the team!

Join the most engaged community in the Sports Business World.

Get all the latest news, insights, data, education and event updates.