DECEMBER 7: Vincent Bonsignore of the Las Vegas Review-Journal notes the Raiders deals will indeed be on the agenda at the upcoming league meeting. Full ratification could therefore take place soon.
NOVEMBER 21: Earlier in 2024, the deals allowing Tom Brady, Tom Wagner and Richard Seymour to purchase a total of 10.5% of the Raiders was approved. Agreements are now in place for two more minority owners to join the organization. 
Silver Lake co-CEO and Endeavor board chairman Egon Durban has a deal with Raiders controlling Mark Davis, as first reported by Ben Fischer of the Sports Business Journal. Durban will be joined by Discovery Land Company founder and chairman Michael Meldman provided their purchases are formally approved. Each will acquire a 7.5% stake should the deals go through.
Davis will still maintain control of the organization in the event the Durban and Meldman purchases receive approval. At least 24 of the league’s 32 owners will need to give the deals the green light, something which could happen during the NFL’s special league meeting next month. The finance committee has already reviewed the terms of the agreements, Vic Tafur of The Athletic notes (subscription required). A recommendation for approval could pave the way to the ownership group at large finalizing the deals.
One potential issue on that front is the fact that Endeavor has a sports agency arm called WME Sports. Durban owns a stake in the company, which has (among other athletes) NFL players as its clientele. By rule, NFL owners cannot also represent players or coaches; as a result, Durban will need to divest from WME as a condition of his Raiders purchase being approved. Fischer reports Durban has given assurances to the NFL that such a move will take place within four months of the deal being going through.
“WME Sports’ football group continues to operate business as usual, and we are prepared for various scenarios as it relates to our football representation business, which is thriving,” a company statement reads. “Our priority remains creating growth and opportunity for our clients and partners.”
Durban and Meldman’s purchases will come in part from Davis’ equity in the Raiders, as well as from the Boscacci and Lovingfoss families, descendants of some of the franchise’s original investors. Full financial terms are not known, but Fischer reports the deals will check in at a “much higher price” than the ones Brady, Wagner and Seymour paid for their shares (which valued the franchise at $3.5 billion).
Mark Davis has been in place as the Raiders’ controlling owner since his father Al passed away in 2011. The 69-year-old is set to remain in his current capacity for the foreseeable future, but further additions to his ownership group could be coming soon.
Just when you thought Black Friday sales had become a bit too absurd… the Raiders play a trump card 🙂
fyi today is Harold Ramis’ (and my) birthday
What a name to go with that post.
But the avatar certainly has a lot of style 🙂
It’s funny how a brand new shiny stadium in Vegas attracts more buyers than what they had in Oakland!
“A lot of holes in the desert, and a lot of problems are buried in those holes. But you gotta do it right. I mean, you gotta have the hole already dug before you show up with a package in the trunk. Otherwise, you’re talking about a half hour to 45 minutes worth of digging. And who knows who’s gonna come along in that time? Pretty soon, you gotta dig a few more holes. You could be there all freaking night” – Nicky Santoro
Must be tight on cash. Needs more money for the Aces new salaries.