Mark Davis agrees to sell another 15 percent of Raiders

The Las Vegas Raiders’ ownership group looks set to expand.

On Wednesday, The Athletic announced that Mark Davis agreed in principle to a deal to sell a total of 15 percent of the franchise. The ownership stake would be divided in two equal parts to Silver Lake co-CEO and Endeavor board chairman Egon Durban and Discovery Land Company chairman Michael Meldman.

“The NFL finance committee has reviewed the terms of the transaction,” according to Tashan Reed of the Athletic.

“The committee could bring the sale up for a vote among NFL owners at the special league meeting from Dec. 10-11 in Irving, Texas. For Durban and Meldman’s bids to become official, at least 24 of the league’s 32 owners would need to approve them in a vote.”

The deal comes a month after the Raiders saw a significant shakeup in ownership. In October, legendary NFL quarterback Tom Brady was part of an ownership group that was approved to acquire a ten percent stake in the franchise. Brady’s former teammate and former NFL defensive lineman Richard Seymour also bought a less than one percent ownership stake in a separate deal.

A factor that could complicate matters is Durban’s direct association with Endeavor’s sports agency arm WME Sports, which represents NFL players such as Cincinnati Bengals quarterback Joe Burrow, Minnesota Vikings wide receiver Justin Jefferson, and San Francisco 49ers defensive end Nick Bosa.

“The NFL prohibits any individual from simultaneously owning a stake in a team and a business representing current or prospective players and coaches,” according to Ben Fischer of the Sports Business Journal.

Durban has assured NFL lawyers and owners on the finance committee that he would be able to divest his stake in WME Sports within four months of the Raiders deal closing.

Despite the whirlwind of changes happening with the Raiders from an ownership standpoint, Davis is still considered the principal owner of the team and would have the final say on decisions regarding the team.

“If [Davis] wanted to, he could sell nearly all his stakes and still keep decision-making power,” said Reed.

“That’s because, as of 2022, the NFL dropped the minimum percentage of a team that a longstanding owner must control from five percent to one percent for teams with the same owner for at least 10 years. Davis has owned the team since his father Al died in 2011, so he would fall in that group.”

While Brady and Seymour are either currently advising or set to advise Davis in football decisions, and Durban and Meldman presumably work on the business side, the state of the Raiders ultimately would remain the same if the deal is approved.

There are some hurdles to clear, but any issues will likely be discussed at the special league meeting next month. Should the other owners be satisfied with what they hear, the Raiders will be welcoming two more part-owners into the fold.