Since the passing of his father, the great Al Davis, Mark Davis has been the the controlling owner of the Las Vegas Raiders. Davis has always been committed to doing everything in his power to make the Raiders a successful franchise and now he is reportedly putting some things in place in order to make sure that continues should he ever want to move on.
According to Seth Wickersham and Don Van Natta Jr. of ESPN, NFL owners are set to vote on a succession plan for the Raiders that would give minority owner Egon Durban the first right to purchase the majority stake of the team from Davis:
NFL owners are scheduled to vote on a Las Vegas Raiders succession plan that gives Silver Lake co-chief executive officer Egon Durban the option to purchase a majority stake in the team from longtime owner Mark Davis, according to multiple ownership and team executives with direct knowledge of the situation.
Although sources close to Davis say he has no intention of selling his majority stake, the vote would mean that if and when Davis, or his heirs, did decide to sell, Durban, a limited partner, would have the option to buy the club. Owners would then have to approve Durban as the new controlling owner, per league rules.
Four sources with knowledge of the situation said that owners will also vote on Davis selling roughly 7% of the team to Durban and another limited partner, Michael Meldman. That sale would put the team’s valuation at nearly $10 billion, two of those sources said.
As was noted, there are no immediate plans for Davis to sell his controlling stake of the Raiders, and reportedly this is simply about setting up to make it much easier should Davis want to sell in the future:
Davis declined to comment Thursday afternoon. But a source close to Davis told ESPN: “Mark has no intention to sell his majority stake in the team. This sets up a smooth succession plan.”
Transferring ownership of a sports franchise can often be a long and complicated proccess and it sounds as if Davis and the Raiders are simply looking to avoid much of the headache that comes along with that byt having a plan ready to sell to someone he trusts. But by all accounts that won’t be coming anytime soon.
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