Raiders Succession Plan: Davis Denies Sale, Grants Durban Option to Buy Majority Stake

NFL owners are scheduled to vote later this month on a succession plan for the Las Vegas Raiders, a move that would allow Silver Lake co-chief Egon Durban to potentially acquire a majority stake in the franchise, according to reports from ESPN and other news outlets.

The proposed plan, which Raiders owner Mark Davis has agreed to, involves the immediate sale of seven percent of the team to Durban and Michael Meldman, with Durban gaining the option to purchase a controlling interest at a future date, should Davis choose to sell. The current valuation for the equity sale is $10 billion, though the price for Davis’s controlling stake has not been disclosed.

Davis, however, maintains he has no intention of selling his majority ownership. A source close to Davis told ESPN, on background, that the plan is designed to ensure a “smooth succession plan.”

Durban already holds a 7.5 percent stake in the Raiders, alongside Meldman. The succession plan effectively grants Durban the right of first refusal should Davis ever decide to relinquish control of the team. This arrangement appears to preempt any potential bids from other parties, including former New England Patriots quarterback Tom Brady, who previously acquired a minority stake in the Raiders at a valuation considered below market value.

The move comes after Davis sold a 15 percent stake in the team, as reported by The New York Times, further solidifying the succession planning process. The details of that sale and its implications for the current proposal, remain under discussion among NFL owners.

The vote by NFL owners is expected to take place later in March, setting the stage for a potential shift in ownership of one of the league’s most prominent franchises. The outcome of the vote will determine whether Durban gains the opportunity to become the majority owner of the Raiders, and whether Davis will ultimately retain control of the team.