By Alan Snel, LVSportsBiz.com Publisher-Writer
LAS VEGAS, Nevada — With neither a wife nor children, Raiders owner Mark Davis now has an NFL-approved team ownership succession plan after owners gave the succession plan the green light during their meetings in Arizona.
Raiders minority owner (7.5 percent) Egon Durban, a tech investor who is co-CEO of Silver Lake, has the option to buy control of the Raiders in the event Davis wants to sell after the NFL owners approved a deal for Durban to buy another seven percent of the team.
Davis has said he has no intention of selling control of the Raiders.
The NFL requires each team to have a succession plan. Mark Davis’ mother, Carol Davis, died in October.
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The Raiders’ team value has soared since Davis moved the team from Oakland to Las Vegas, where a stadium built with $750 million in public dollars opened in 2020. The revenue-generating powers of Allegiant Stadium is a contributing reason why the Raiders team value has skyrocketed.
Southern Nevada is still raising more than $1 billion in public funds to pay off the $750 million public contribution to help the Raiders build the domed NFL stadium that sits on the west side of I-15 across from Mandalay Bay hotel-casino.
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