NFL approves sale of 7% of Las Vegas Raiders at over $11 billion valuation
CNBC • • sports
Key Points:
- The NFL approved the sale of a 7% stake in the Las Vegas Raiders by controlling owner Mark Davis to Egon Durban and Michael Meldman at an $11.1 billion valuation, including a 10% "flip tax" payable to the league as part of the Raiders' relocation agreement.
- The flip tax requires buyers of Raiders shares through March 2037 to pay 10% of the purchase price to the NFL, with the current rate valid from April 2022 through March 2027.
- Durban and Meldman previously acquired a combined 15% stake in the Raiders in December 2024 at a $6.5 billion valuation, and NFL legend Tom Brady became a minority investor in October 2024.
- The Raiders hold the first pick in the 2026 NFL Draft and are expected to select quarterback Fernando Mendoza, the recent Heisman Trophy winner who led Indiana University to a national championship.
- NFL team valuations continue to rise amid renegotiations of lucrative media rights deals, including ongoing talks for a significant increase in CBS' Sunday game rights fees, potentially exceeding $3 billion annually.
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