Egon Durban, Michael Meldman Have Deals In Place To Purchase Raiders Stakes

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.