NFL owners will vote next week on a succession plan that would give Silver Lake co-chief executive officer Egon Durban the option to buy a majority stake in the Las Vegas Raiders from longtime owner Mark Davis, multiple media outlets reported.
The vote — expected to take place at the annual league meeting in Phoenix starting March 29 — does not necessarily signal that a significant change is in the immediate future, as reports say Davis has no intention of selling his majority stake.
However, the vote sets the stage for if and when Davis or his heirs decide to sell, giving Durban, a limited partner, the option to buy the club. Durban would have to be approved as the new controlling owner by the NFL’s other owners, per league rules.
Owners reportedly also will vote on Davis selling roughly 7% of the team to Durban and another limited partner, Discovery Land Company founder and chairman Michael Meldman. Both already are limited partners, having each acquired a 7.5% stake in the team in December 2024.
If approved, the most recent sale would put the team’s valuation at nearly $10 billion, according to ESPN. The Raiders would join three other organizations valued by Forbes at more than $10 billion: the Dallas Cowboys ($13 billion), Los Angeles Rams ($10.5 billion), and New York Giants ($10.1 billion).
In 2024, Davis sold a 5% stake in the team to legendary quarterback Tom Brady for an undisclosed sum. Knighthead Capital Management co-founder Tom Wagner (5%) and Raiders Hall of Famer Richard Seymour (0.5%) also bought into the Raiders.
Davis, 70, inherited the team in 2011 upon the death of his father, Al Davis, a legendary figure in the league who went from being the team’s coach and general manager in 1963 to the principal owner in 1972.
The elder Davis won three Super Bowls, but since his death, the Raiders have had just two winning seasons and no playoff wins.
The addition of Brady to the ownership team and a move from Oakland to Las Vegas in 2020 have so far not invigorated the organization as they’d hoped. The Raiders have just one winning season since the move (10-7 and a first-round playoff loss in 2021) and have gone a dismal 4-13 and 3-14 in 2024 and 2025, respectively.
