NFL owners approved the sale of a 25 percent minority stake in the Las Vegas Raiders to a group led by Silver Lake co-CEO Egon Durban at a franchise valuation of $9.9 billion, with the transaction closing on May 20, 2026. The stake was acquired from First Football, the largest minority shareholder in the club, at a total transaction price that approaches $11 billion when the ten percent flip tax payable to the league is factored in. Michael Meldman, founder and chairman of Discovery Land Company, joined Durbans consortium on the deal. The sale does not alter the controlling position of owner Mark Davis.
The Raiders franchise was last valued at $700 million in 2007, when First Football originally acquired its stake from the late Al Davis. The transaction at $9.9 billion represents an appreciation of more than 1,300 percent over that original entry point in fewer than two decades, a trajectory that illustrates the pace at which NFL franchise values have detached from traditional asset classes. The Raiders join a short but growing list of franchises to receive formal equity valuations in the nine-figure billions: the Washington Commanders changed hands at $6.05 billion in 2023, and the Denver Broncos were acquired by a Walmart family-backed group for $4.65 billion in 2022. The Raiders transaction sets a new benchmark.
Durbans involvement signals a maturing relationship between Silicon Valley-adjacent private capital and professional football ownership. Silver Lakes background in technology-focused buyouts and media infrastructure gives the consortium an operational profile distinct from the family offices and billionaire owners that have historically dominated NFL ownership. The leagues willingness to approve a buyer with this profile reflects a broader strategic realisation: teams at this valuation tier require capital partners who bring not just wealth but connectivity to the industries shaping sports distribution, fan engagement, and data monetisation.
The deal arrives at a moment when the NFL is pressing forward with its international expansion agenda and navigating the transition from traditional broadcast to streaming-led rights models. Franchise values at this level create implicit pressure on the league to deliver commensurate revenue growth across its next media rights cycle. For Silver Lake, whose previous sports investments include stakes in City Football Group and Manchester United, the Raiders acquisition deepens a deliberate positioning in the highest-profile franchises in global sport. The entry price also resets the floor for any future minority transactions across the NFLs thirty-two clubs.
