The Big Lead

Raiders reportedly agree to sell minority stake to Endeavor chairman

By Sam Westmoreland

Sep 22, 2024; Paradise, Nevada, USA; Las Vegas Raiders owner Mark Davis duirng the game against the Carolina Panthers at Allegiant Stadium. Mandatory Credit: Kirby Lee-Imagn Images
Sep 22, 2024; Paradise, Nevada, USA; Las Vegas Raiders owner Mark Davis duirng the game against the Carolina Panthers at Allegiant Stadium. Mandatory Credit: Kirby Lee-Imagn Images / Kirby Lee-Imagn Images
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The Las Vegas Raiders are getting another influx of capital, courtesy of the sale of 7.5 percent of the team to Silver Lake co-CEO and Endeavor Chairman Egon Durban.

According to Ben Fischer of Sports Business Journal, Durban's 7.5 percent of the team would come from majority owner Mark Davis, as well the descendants of two of the original investors in the franchise, Eugene and Arnold Bosacci.

This particular deal does come with complications, though. Durban owns an interest in WME Sports, an agency that represents MLB, NBA, and most notably, NFL players.

This presents a conflict of interest as Durban becomes an NFL owner. He would have to fully divest from WME, which represents players like the Bengals' Joe Burrow, the Vikings' Justin Jefferson, and the 49ers' Nick Bosa. In fact, WME represented four first-round picks in the 2024 NFL Draft, tied for the second most of any agency. However, Fischer noted it was unlikely this would pose a significant issue, as deals seldom progress to this stage without these sorts of conflicts being sorted out.

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According to Fischer, Durban and Michael Meldman, who also purchased 7.5% of the team, paid a "much higher price" for their share of the team than Patriots legend Tom Brady, who paid a combined $220 million with Tom Wagner for a 10 percent share of the Raiders.

Deals like this help owners like Davis get a boost of capital, likely to help further pay for the $2 billion Allegiant Stadium in Las Vegas. Davis footed $500 million of that bill, as well as a $350 million fee to the NFL to move the team from Oakland to the desert. Selling minority shares in the team allows Davis to maintain decision-making control, while paying off a chunk of what he lost to bring the team to Las Vegas.

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