NFL approves sale of 7% of Las Vegas Raiders at over $11 billion valuation
Ashton Jeanty lunges for teammate Daniel Carlson after the Las Vegas Raiders kick a 60-yard field goal in the fourth quarter of the season-ending game against the Kansas City Chiefs on January 4, 2026 at Allegiant Stadium in Las Vegas. The 14-12 victory was the Raiders’ first against the Chiefs at Allegiant Stadium.
Ethan Miller | Getty Images
The National Football League on Tuesday approved the sale of 7 percent of the Las Vegas Raiders by owner Mark Davis to Egon Durban. co-CEO Silver Lake and Michael Meldman, founder and chairman Discovery Land Co. is valued at $11.1 billion, according to a person familiar with the deal firsthand who asked not to be named because the transaction is private.
The deal also includes a 10% “conversion tax” that buyers pay to the NFL, one person said. As part of the relocation deal between the Raiders and the NFL when the team moved from Oakland, Calif., to Las Vegas in 2020, anyone who buys a piece of the Raiders by March 2037 must pay the league a percentage of the purchase price, according to a person familiar with the terms of the deal who asked not to be identified because the matter is private. Under the agreement, the reverse tax rate is 10% from April 2022 to March 2027, he said.
With the first pick in the 2026 NFL Draft, the Raiders are expected to select quarterback Fernando Mendoza. Won the Heisman Trophy Last season he led Indiana University to its first national championship and 16-0 record..
Along with the sale of shares in the Raiders, the NFL also approved giving Durban the right of first refusal to Davis if he decides to sell his controlling interest in the team. Durban and Meldman acquired a combined 15% of the Raiders in December 2024 at a valuation of $6.5 billion, including 10% tax, according to the person with first-hand knowledge of the deal. NFL legend and broadcaster Tom Brady also became a minority investor in the Raiders in October 2024.
The Raiders were valued at $9.3 billion in CNBC’s 2025 Official NFL Team Valuations, ranking fourth among the league’s 32 teams.
NFL team valuations are rising as the league looks to renegotiate big increases in media rights deals before existing deals expire. As CNBC previously reported, the NFL signed an 11-year, $111 billion media rights deal in 2021 for all media partners except Disney that includes an opt-out clause for the league after the 2029 season. The NFL could back out of its deal with Disney after the 2030 season. CNBC reported on March 13 that the NFL and CBS were discussing a deal that would see the league increase its rights fee for CBS’ Sunday afternoon games by at least 50% to more than $3 billion.
Earlier this month, Lin Bin co-founder and vice president Xiaomi acquired a 1% stake in the company that owns the Miami Dolphins, Hard Rock Stadium, Formula 1 Crypto.com Miami Grand Prix and a significant stake in the Miami Open tennis tournament from Stephen Ross at a valuation of $12.5 billion; That puts the Dolphins’ value at more than $11 billion, according to a person with firsthand knowledge of the deal who asked not to be identified because the transaction is private. In September, CNBC valued the Dolphins at $8.55 billion, ninth in the NFL.
