NFL Owners Vote on Raiders Succession Plan

0:00It's March 20th for the NFL. Let's get into it. Follow and subscribe for more Teen News every day. NFL owners are gearing up to vote on a succession plan for the Las Vegas Raiders. The proposal would let minority owner Egon Durbin buy a majority stake from longtime owner, Mark Davis. This comes up at the league meeting in Phoenix from March 29th through April 1st. Durbin, co-chief executive of the tech investment firm Silver Lake, already holds a 7.5% stake. He picked that up in December 2024 when owners approved selling 15% of the team total. The other half went to Michael Meldman of Discovery Land Company. Mark Davis took over the Raiders after his father Al died in 2011. Now turning 71 in May with no kids, he's moved the team from Oakland to Las Vegas after the 2019 season. The franchise has sold 25.5% overall since then, despite just two playoff trips and no wins in 23 years. Other recent buyers include Tom Brady with 5%, Tom Wagner with 5%, and Richard Seymour

1:03with 0.5%. Forbes values the Raiders at $7.7 billion. And Durbin brings big experience from investments in TikTok, video games, and sports. Like Manchester City, League approval needs 24 of 32 owners on board, so eyes will be on that vote as a shapes the Raiders future leadership.