Brady’s $375M Fox Deal Creates Conflict as Raiders Prep $10B Ownership Change Vote

The Las Vegas Raiders are now valued at nearly $10 billion, the highest in franchise history, as NFL team owners prepare to vote on a succession plan that could eventually hand control to billionaire investor Egon Durban. The vote is scheduled for the league’s annual meetings in Phoenix beginning March 29, 2026. The landmark valuation is implied by a proposed sale of approximately 7% of the franchise to Durban and business partner Michael Meldman, setting a new standard for NFL ownership worth.

Mark Davis Insists He Is Not Selling the Team

Despite the succession plan moving toward league approval, Raiders owner Mark Davis has made clear he has no intention of selling his majority stake. 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.” Davis, who turns 71 in May and has no direct heirs, confirmed the plan to the Las Vegas Review-Journal but declined to comment further on Thursday afternoon. The plan is widely viewed as an estate-planning measure, not an imminent sale.

League’s Finance Committee Already Cleared the Deal

The NFL’s finance committee has already approved the option agreement with Durban, according to two sources with direct knowledge of the situation. That clears the path for the full ownership vote on March 29, making the formal ballot largely procedural rather than contentious. Owners will decide on two items: authorizing Davis to sell roughly 7% of the team to Durban and Meldman, and formalizing Durban’s option to acquire a majority stake from Davis or his heirs whenever Davis decides to sell.

Former Raiders Executive Provides Key Context on Succession Rules

Former Raiders CEO Amy Trask clarified that succession plans are a standard NFL requirement, not a sign of impending sale. “Unless league policy has changed since I left the league, teams are required to submit succession plans, and those plans have to be approved. I know this, cause I did this for Al [Davis],” Trask said. Her insight reframes the vote as routine league governance rather than a dramatic ownership shake-up, though the scale of the valuation and the specific parties involved make this particular plan unusually significant.

Who Is Egon Durban? The Billionaire Poised to Own the Raiders

Egon Durban co-runs Silver Lake, a technology-focused private equity firm managing approximately $102 billion in assets. He already owns a 7.5% minority stake in the Raiders, acquired in December 2024 alongside Michael Meldman, the founder of Discovery Land Co. Forbes estimates Durban’s personal net worth at $2.5 billion. His portfolio includes stakes in Madison Square Garden Sports, parent company of the New York Knicks and Rangers, as well as Fanatics Collectibles. If approved as controlling owner, Durban would represent a new wave of tech-driven NFL ownership.

Davis Said Durban Would Help Beyond the Balance Sheet

When Davis first approved Durban and Meldman’s minority investment in December 2024, he signaled this was more than a financial transaction. “They’re going to help us immensely on the business side of the organization,” Davis said at the time. That statement takes on new significance now, with Durban positioned as a potential future controlling owner. His involvement on the business side has provided Durban with operational familiarity of the franchise, a factor that could smooth any eventual transition to majority ownership should Davis or his heirs choose to sell.

Raiders’ Value Has Skyrocketed Since Las Vegas Move

The Raiders’ financial growth under Davis has been remarkable. The franchise was valued at $2.82 billion during its inaugural Las Vegas season in 2020 and climbed to $7.9 billion last year, according to Sportico, before the implied $10 billion figure emerging from the current succession discussions. Davis also led construction of the $2 billion Allegiant Stadium and separately owns the WNBA’s Las Vegas Aces, purchased for $2 million in 2021 and now valued at $310 million, according to Forbes. The Las Vegas market has dramatically accelerated the Raiders’ financial trajectory.

Tom Brady Investment Failed to Spark On-Field Turnaround

In 2024, Davis sold a 5% stake to legendary quarterback Tom Brady, alongside Knighthead Capital Management co-founder Tom Wagner (5%) and Hall of Famer Richard Seymour (0.5%). The investment was intended to invigorate the franchise. Instead, the Raiders posted disappointing 4-13 and 3-14 records in 2024 and 2025, respectively. Despite Brady’s star power, there has been no competitive revival. The succession plan effectively gives Durban a first right of refusal, which industry analysts note would prevent Brady from acquiring a controlling stake ahead of Durban.

Davis Family Legacy Spans Over Five Decades of NFL Ownership

Al Davis joined the Raiders as coach and general manager in 1963, became principal owner in 1972, and won three Super Bowls (XI, XV, and XVIII). When he passed away in 2011, son Mark inherited one of sport’s most storied franchises. Mark Davis has since cycled through multiple head coaches and general managers, with only two winning seasons and no playoff victories to show. The succession plan, if ever activated, would mark the end of a half-century Davis family dynasty that fundamentally shaped the identity of both the Raiders and the NFL.

Supermajority Vote Required Before Any Ownership Transfer Occurs

Should Davis ever choose to sell his majority stake to Durban, the transaction would require approval from at least 24 of the league’s 32 owners, per NFL governance rules. That supermajority threshold ensures broad consensus among ownership groups before any controlling stake changes hands. Durban would then undergo league-mandated background checks and financial evaluations as part of the formal approval process for new controlling owners. These layered requirements mean any full ownership transition could take months to finalize, even with a pre-approved succession framework already in place.

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