NFL owners approve Mark Davis’ Raiders succession plan

PHOENIX – NFL owners on Tuesday approved a Las Vegas Raiders succession plan that will give Silver Lake co-chief executive officer Egon Durban the option to purchase a majority stake in the team from owner Mark Davis, commissioner Roger Goodell said.

The plan, which calls for Durban and limited partner Michael Meldman to purchase an additional 3.5% of the franchise from Davis now with a potential additional 3.5% stake to be sold to him at a later time, was passed during a vote at the NFL annual meeting. Passage requires 24 affirmative votes from the 32 franchises.

But Davis, 70, insists he has no intention of selling a controlling interest in his team.

He told Raiders.com on Tuesday that the development means “Nothing. Absolutely everything runs exactly the way it’s been.” Davis, who does not have any children, added, “The NFL forces you to have a succession plan. And up until [five] months ago, my mom and I were both alive and my mom passed away.”

Carol Davis, the widow of late Raiders owner Al Davis and Mark Davis’ mother, died last year at 93.

The Raiders have been in the Davis family since Al Davis became principal owner in 1972. He went on to become one of the league’s most influential figures and was enshrined in the Pro Football Hall of Fame in 1992.

Durban already owned 7.5% of the Raiders after purchasing that original stake in 2024. That was one of just several ownership stakes Mark Davis has sold in recent years, including a 5% stake to former NFL great Tom Brady.

Durban co-runs Silver Lake, which is a private equity firm with a portfolio that includes stakes in Madison Square Garden Sports and Fanatics Collectibles.