Seth Wickersham
Don Van Natta Jr.
Don Van Natta Jr.
ESPN Senior Writer
Host and co-executive producer of the new ESPN series, “Backstory”
Member of three Pulitzer Prize-winning teams for national, explanatory and public service journalism
Author of three books, including New York Times best-selling “First Off the Tee: Presidential Hackers, Duffers, and Cheaters from Taft to Bush”
24-year newspaper career at The New York Times and Miami Herald
Multiple Authors
NFL owners are scheduled to vote on a Las Vegas Raiders succession plan that gives Silver Lake co-chief executive officer Egon Durban the option to purchase a majority stake in the team from longtime owner Mark Davis, according to multiple ownership and team executives with direct knowledge of the situation.
Although sources close to Davis say he has no intention of selling his majority stake, the vote would mean that if and when Davis, or his heirs, did decide to sell, Durban, a limited partner, would have the option to buy the club. Owners would then have to approve Durban as the new controlling owner, per league rules.
Four sources with knowledge of the situation said that owners will also vote on Davis selling roughly 7% of the team to Durban and another limited partner, Michael Meldman. That sale would put the team’s valuation at nearly $10 billion, two of those sources said.
Owners will vote on the transactions at the annual league meeting held in Phoenix starting March 29, according to the agenda distributed to clubs this week. The league’s finance committee has already approved the option agreement 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 intention 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 for Silver Lake didn’t immediately respond to requests for comment.
The Davis family has been a 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 fellow owners and the league office.
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 wins, and Davis has cycled 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, who is the founder of Discovery Land Co.
In 2024, Davis also sold 5% of the team for an undisclosed sum to legendary quarterback Tom Brady — a move that was supposed to invigorate the franchise. Instead, the Raiders went 4-13 and 3-14 in 2024 and 2025, respectively. Brady bought into the team alongside Knighthead Capital Management co-founder Tom Wagner (5%) and Raiders Hall of Famer Richard Seymour (0.5%).
Durban co-runs 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.
