Sources: NFL owners set to vote on Raiders succession plan
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Seth Wickersham
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Seth Wickersham
ESPN Senior Writer
- Senior writer for ESPN.com and ESPN The Magazine
- Joined ESPN The Magazine after graduating from the University of Missouri.
- Although he primarily covers the NFL, his assignments have also taken him to the Athens Olympics, the World Series, the NCAA Tournament, and the NHL and NBA playoffs.
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Don Van Natta Jr.
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Don Van Natta Jr.
ESPN Senior Writer
- Host and co-executive producer of new ESPN series, “Backstory”
- Member of three Pulitzer Prize-winning teams for national, explanatory and public service journalism
- Author of three books, including the New York Times bestseller First Off the Tee: Presidential Hackers, Duffers, and Cheaters from Taft to Bush
- 24-year career in the press for the New York Times and the Miami Herald
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NFL owners are expected to vote on a Las Vegas Raiders succession plan that gives Silver Lake co-general manager Egon Durban the option to buy a majority stake in the team from longtime owner Mark Davis, according to several team owners and executives with direct knowledge of the situation.
Although sources close to Davis say he has no plans to sell his majority stake, the vote would mean that if and when Davis, or his heirs, decide to sell, Durban, a limited partner, would have the option to buy the club. The owners would then have to approve Durban as the new majority owner, in accordance with league rules.
Four sources with knowledge of the situation said the owners would also vote for Davis to sell about 7 percent of the team to Durban and another sponsor, Michael Meldman. The sale would bring the team’s valuation to nearly $10 billion, two of these sources said.
Owners will vote on the deals at the league’s annual meeting in Phoenix starting March 29, according to the agenda distributed to clubs this week. The league’s finance committee has already approved the option deal with Durban, according to two sources with direct knowledge of the situation.
Davis declined to comment Thursday afternoon. But a source close to Davis told ESPN: “Mark has no plans to sell his majority stake in the team. This sets up a smooth succession plan.”
An NFL spokesperson declined to comment. Spokespeople for the Raiders and Silver Lake did not immediately respond to requests for comment.
The Davis family has been the cornerstone of professional football ownership for more than five decades, and Mark Davis’ late father, Al Davis, is one of the few owners in any sport whose notoriety transcended the game. Al Davis was hired as the team’s coach and general manager in 1963 and became principal owner in 1972. He won three Super Bowls and was as famous for his contributions to the game as for his lawsuits and fights with other owners and the football office. league.
Mark Davis, who turns 71 in May, inherited the team when his father died in 2011.
Since then, the Raiders have had two winning seasons and no playoff victories, and Davis has gone through several head coaches and general managers. He moved the team from Oakland to Las Vegas starting in 2020 to play at Allegiant Stadium.
Durban has owned 7.5% of the team since December 2024, when NFL owners approved the Raiders to sell 15% of the franchise to him and Meldman, the Discovery Land Co. founder.
In 2024, Davis also sold 5% of the team for an undisclosed amount to legendary quarterback Tom Brady – a move expected to reinvigorate the franchise. Instead, the Raiders went 4-13 and 3-14 in 2024 and 2025, respectively. Brady joined the team alongside Knighthead Capital Management co-founder Tom Wagner (5%) and Raiders Hall of Famer Richard Seymour (0.5%).
Durban co-heads Silver Lake, a technology-focused private equity firm, and has a net worth of $2.5 billion, according to Forbes. Silver Lake’s portfolio includes stakes in some sports-related companies, including Madison Square Garden Sports – the parent company of the New York Knicks and New York Rangers – and Fanatics Collectibles.
