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.
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.
The deal does not change anything in terms of Mark 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.
Nevertheless, Durban appears to be positioning himself to eventually buy the Raiders if 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.
The latest deal does not cut into Davis’ stake in the club.
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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.
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Durban, Meldman, Tom Brady, and Knighthead Capital Management co-founder and co-CEO Tom Wagner have progressively purchased stakes in the Raiders over the last two years.
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.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: nypost.com
