Group led by Egon Durban to buy 25% of Las Vegas Raiders at $9.9 billion valuation: Sources
Las Vegas Raiders running back Ashton Jeanty celebrates his third-quarter touchdown against the New England Patriots at Gillette Stadium on September 7, 2025 in Foxborough, Massachusetts.
Danielle Parhizkaran | Boston Globe | Getty Images
First Football, the largest minority shareholder of the NFL’s Las Vegas Raiders, is selling its 25% stake in the team to a group led by Egon Durban at a $9.9 billion valuation; A person familiar with the deal asked for anonymity because he was not authorized to speak publicly about the private transaction.
The First Football group bought 20 percent of the Raiders from Al Davis, father of current owner Mark Davis, in 2007 and then added another 5 percent of the team at a weighted average valuation of about $700 million, according to two people with knowledge of the deal. Citizens requested that their names not be disclosed due to the private nature of the matter.
The deal is reportedly subject to league approval at next week’s NFL owners meeting. The total consideration for the transaction is $11 billion, of which 10% is a sales tax or “dummy tax,” which must be paid to the league and then shared by the other 31 teams, making the enterprise value of the deal at $9.9 billion, according to people with knowledge of the deal.
As CNBC previously reported, as part of the relocation agreement between the Raiders and the NFL when the team moves from Oakland, California, 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.
If the deal is approved, Davis would remain the dominant owner with 36 percent of the Raiders, and Durban would become the largest minority owner with more than 11 percent, according to a person familiar with Raiders ownership who asked not to be named because the matter is private.
In 2024, NFL legend Tom Brady and his business partner Tom Wagner purchased approximately 10% of the Raiders for a valuation of approximately $3.5 billion plus a 10% tax on the league.
CNBC reported in March that the NFL had approved a succession plan for the sale of the Raiders by Davis to Durban. co-CEO In addition to the acquisition of Silver Lake at a valuation of over $11 billion, approval was given for Durban to acquire an option to purchase Davis should he decide to sell a controlling stake.
The Raiders are valued at $9.3 billion, ranking them fourth among the league’s 32 teams in 2025, according to CNBC’s Official NFL Team Valuations.
Davis also owns the WNBA’s Las Vegas Aces, worth $500 million, who have won three of the last four WNBA titles and were ranked fourth in the league by CNBC earlier this month.
Last month, the Raiders selected quarterback Fernando Mendoza. Won the Heisman Trophy and pioneered Indiana University’s first national championship and 16-0 record.With the first overall pick in the NFL draft.
The Raiders won the Super Bowl after the 1976, 1980 and 1983 seasons but only qualified for the postseason. twice Since 2002.
