NFL owners are set to vote on a potential Las Vegas Raiders succession plan at the upcoming league meeting in Phoenix that would give minority owner Egon Durban the option to buy a majority stake in the franchise from longtime owner Mark Davis, a league source told The Athletic on Thursday.
Durban, the co-chief executive of Silver Lake, a tech-focused private equity firm, already owns 7.5 percent of the Raiders. Durban acquired his stake in December 2024 when NFL owners approved the sale of 15 percent of the team. Michael Meldman, the founder and chairman of Discovery Land Company, bought the other 7.5 percent.
If Davis, who turns 71 in May and has no children, chooses to sell a majority stake to Durban, the deal would require approval from 24 of the league’s 32 owners. The annual league meeting runs from March 29 through April 1.
Davis has owned the Raiders since the death of his father, Al Davis, in October 2011. Like his dad, he relocated the franchise, this time from Oakland, Calif., to Las Vegas after the 2019 season.
The Raiders have sold 25.5 percent of the franchise since the move to Allegiant Stadium. The team has two playoff appearances and no postseason wins in the past 23 seasons, but was valued at $7.7 billion by Forbes in January.
Durban bought into the Raiders five years after the move to Vegas, and a couple of months after Mark Davis sold an additional 10.5 percent stake in the team. That group of buyers included seven-time Super Bowl-winning quarterback Tom Brady (5 percent), Knighthead Capital Management co-founder Tom Wagner (5 percent) and Hall of Fame defensive lineman Richard Seymour (0.5 percent).
Durban, whose net worth was estimated at $2.5 billion by Forbes, oversees Silver Lake investments in companies such as the U.S. TikTok, Electronic Arts and Altera, as well as sports entities including City Football Group (Manchester City and New York City FC), Madison Square Garden Sports (New York Knicks and New York Rangers) and Fanatics, which sells everything from jerseys to trading cards.