LAS VEGAS — A significant development in the future ownership structure of the Las Vegas Raiders is set to unfold later this month. As NFL owners prepare to vote on a succession plan tied to longtime owner Mark Davis.
The proposal would grant Silver Lake co-CEO Egon Durban already a minority stakeholder. The future option to purchase a majority stake in the franchise, according to multiple league and team sources. Despite the headline-grabbing nature of the proposal, sources close to Davis have made one thing clear: he is not looking to sell the team. “Mark has no intention to sell his majority stake in the team,” a source told ESPN. “This sets up a smooth succession plan.”
Instead, the vote scheduled for the NFL’s annual league meetings beginning March 29 in Phoenix is designed to establish a clear line of succession should Davis or his heirs ever decide to sell. If that scenario unfolds, Durban would hold the first option to acquire controlling ownership, pending approval from NFL owners.
Additional Stake Sale Could Value Raiders Near $10 Billion
Alongside the succession framework, owners are also expected to vote on a separate transaction involving the sale of approximately 7% of the franchise to Durban and fellow investor Michael Meldman.
That deal would reportedly value the Raiders at nearly $10 billion. Placing the franchise among the most valuable in global sports. Durban previously acquired a stake in December 2024, when the league approved the sale of 15% of the team to him and Meldman, the founder of Discovery Land Company.
A New Ownership Era Taking Shape
Durban, who co-leads private equity giant Silver Lake, brings significant financial backing and sports business experience. His firm holds investments across major sports and entertainment properties, including Madison Square Garden Sports and Fanatics Collectibles.
His increasing stake in the Raiders signals a growing influence even as Davis remains firmly in control. The Raiders’ ownership group has already evolved in recent years. In 2024, Tom Brady purchased a 5% stake in the franchise, joining an ownership group that includes Knighthead Capital’s Tom Wagner and Raiders Hall of Famer Richard Seymour. The move was initially viewed as a potential spark for the organization. But results on the field have yet to follow.
Since Mark Davis took over following the death of his father, Al Davis, in 2011. The Raiders have struggled to find sustained success. The team has recorded just two winning seasons in that span and has yet to secure a playoff victory under Davis’ leadership.
Recent years have been particularly difficult, with back-to-back seasons of 4-13 and 3-14 in 2024 and 2025, respectively. However, off the field, the franchise has surged in value driven in large part by its relocation to Las Vegas in 2020 and the opening of Allegiant Stadium.
Legacy of the Davis Family Still Central
The Raiders remain one of the most historically significant franchises in professional football. Largely due to the legacy of Al Davis. A Hall of Fame figure, Al Davis served as head coach, general manager, and eventually principal owner, leading the team to three Super Bowl titles while becoming one of the most influential and controversial figures in league history. That legacy continues under Mark Davis, even as the organization modernizes its ownership structure.
The upcoming vote in Phoenix is expected to pass, as the league’s finance committee has already approved the option agreement with Durban. While it may not signal an immediate change at the top. It lays the groundwork for the Raiders’ long-term future ensuring stability, clarity, and a clear path forward whenever a transition eventually occurs. For now, Mark Davis remains firmly in control. But for the first time, the blueprint for what comes next is officially on the table.
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Robert LaMar is a Deputy Editor for Dice City Sports. You can follow him on X via @RobertLaMar26
