Las Vegas Raiders owner Mark Davis reportedly agreed to sell a 15 percent stake in the franchise to two separate investors this week.
According to Tashan Reed of The Athletic, Davis reached an agreement with Silver Lake co-CEO and Endeavor board chairman Egon Durban and Discovery Land Company founder Michael Meldman to sell them each a 7.5 percent ownership stake in the Raiders.
The sale could reportedly go up for vote at the league meetings in Irving, Texas, on Dec. 10 and 11, but Davis will maintain his controlling stake in the Raiders even if it is approved.
If at least 24 of the league's 32 owners vote in favor of the sale, it will mark the second time since last month that Davis has sold off part of the team.
In October, NFL owners approved Davis' sale of a 10.5 percent stake in the team to three investors, led by legendary NFL quarterback Tom Brady. Per Reed, Brady and Knighthead Capital Management co-founder Tom Wagner each purchased a 5 percent stake, while former New England Patriots and Raiders Hall of Fame defensive lineman Richard Seymour bought a 0.5 percent stake.
Davis, 69, has been the Raiders' controlling owner since the death of his father, Pro Football Hall of Famer Al Davis, in 2011.
One of Davis' biggest moves as Raiders owner was spearheading the franchise's move from Oakland to Las Vegas, which was approved in 2017 and put into action in 2020.
The Raiders are three-time Super Bowl champions, but they haven't won it all since 1983 and haven't reached the Super Bowl since 2002.
In fact, the Raiders have only two playoff appearances since their last trip to the Super Bowl, losing in the Wild Card Round each time.
Davis is in the midst of his 14th season as controlling owner of the Raiders, and the franchise only has two winning seasons under his watch, most recently accomplishing the feat in 2021 when they went 10-7.
Vegas went 6-11 in 2022 and 8-9 last season, and the team is trending toward its worst campaign in recent memory with a 2-8 record so far this season.
While success has been fleeting for the Raiders over the past several years, there is at least some reason for optimism since they could have a chance to select a top quarterback such as Colorado's Shedeur Sanders or Miami's Cam Ward in the 2025 NFL draft should they remain near the bottom of the standings.
