ORLANDO — A group led by Silver Lake Managing Partner and co-CEO Egon Durban and Discovery Land Company founder and chairman Michael Meldman is continuing to acquire significant stakes in the Raiders.
The NFL approved the group’s purchase of 25 percent of the club on Tuesday in Orlando, expanding Durban’s stake in the Raiders to 22 percent and Meldman’s interest to 12.9 percent.
Led by Marc Davis, the Las Vegas Raiders ownership group takes a massive shift with Tom Brady, Egon Durban and Michael Meldman in place after $9.9 billion valuation. NBAE via Getty Images
Among those also acquiring individual stakes in the Raiders are Ari Emanuel and Mark Shapiro, who both fall under the Silver Lake group as top executives with WME and TKO Group. Emanuel will own 1.4%, and Shapiro will hold a 0.6% interest in the team.
Durban, Meldman, Tom Brady, and Knighthead Capital Management co-founder and co-CEO Tom Wagner have progressively purchased stakes in the Raiders, with Raiders owner Mark Davis wanting to pump new ideas and leadership into the organization.
Tuesday’s purchase, and the addition to the wide-ranging group of minority owners, accomplishes Davis’ objective.
“They bring an incredible amount of infrastructure to this organization and expertise on so many different levels,” Davis said.
The deal does not change anything in terms of Davis’ control of the club. He still owns 36 percent of the Raiders, and as a legacy owner, he retains controlling interest provided he holds at least 30 percent of the team.
And he plans to remain in control for years to come.
“I’m not going anywhere,” Davis said. “I’m incredibly excited about the future, and I’ve got plenty of time and energy for this.”
Tuesday’s sale does not cut into Davis’ stake in the club.
First Football, the Raiders’ largest minority shareholder, held the 25 percent sold on Tuesday. The group purchased that ownership interest from Al Davis, Mark’s father, in 2007 at a valuation of $700 million.
Nearly 20 years later, they are selling at a valuation of $9.9 billion — making their piece of the franchise worth nearly $2.5 billion.
“We’re grateful for their ownership and everything else over the years,” Davis said of First Football.
Nevertheless, Durban appears to be positioning himself to eventually buy the Raiders if and when the 71-year old Davis decides to sell or when he passes away. In March, the NFL approved a new succession plan giving Durban the first option to buy the Raiders in either scenario.
Davis has no siblings and does not have any children. As it stands now, Durban will eventually own the Raiders.
“Egon is somebody that I think will take the Raiders into the future, once I’m gone,” Davis said. “And I think Raider Nation is going to end up loving him when they get to know him and understand that he wants to win.. And that’s what it’s all about.”
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For now, he and Meldman will have a strong voice in the direction of the Raiders.
“They’re brilliant in their fields,” said Davis.
In addition to being a minority owner, Brady is also the Raiders’ de facto president of football operations and works closely with general manager John Spytek on football-related decisions.
Ari Emanuel will own 1.4% of the Raiders.Zuffa LLC
Mark Shapiro will own 0.6% of the Raiders.Zuffa LLC via Getty Images
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The two spearheaded an active offseason in which Klint Kubiak was hired to replace Pete Carroll as the Raiders’ head coach, and a series of free agent and draft acquisitions, including Indiana quarterback Fernando Mendoza with the first overall pick, helped revamp the Raiders roster.
“I believe we’ve got the football side in the right direction along with the business side. Everybody is on the same page,” Davis said. with everybody on the same page. So right now, everything’s looking really good’.
