The Las Vegas Raiders are looking at a successful future on several fronts. On the field, they drafted their potential franchise quarterback with the first overall pick, Fernando Mendoza. But in the front office, too, steps are being taken to secure the Silver & Black’s future. Earlier this year, at the annual meeting, NFL owners agreed that if and when owner Mark Davis wishes, he could sell a majority of the stakes to Egon Durban and Michael Meldman.

At the time, Durban’s group agreed to buy an additional 3.5%, with the right to buy another 3.5% by the end of this year. While Davis continues to insist that the decision was because the league requires a succession plan and he has no intention of selling the controlling rights of the team, the latest update points to a different reality and we can see why.

“A group led by Silver Lake executive Egon Durban is acquiring 25% of the Las Vegas Raiders, according to people familiar with the matter,” Bloomberg reported. “The equity being sold is from minority investors and not controlling owner Mark Davis.”

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Davis has been seen reducing his stake in the Raiders in recent years. He doesn’t wish to sell the controlling rights, but he knows the reality, as he addressed the situation with Paul Gutierrez of Raiders.com.

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“I don’t have any children or a wife at this time,” Davis told Gutierrez in April. “And so it was prudent to put together a succession plan that would make sure that there were no issues, should something happen to me or should I decide.”

But that wouldn’t be the only reason why he may be looking to slowly fade away.

You see, Davis took over the ownership after his father, Al, passed away in 2011. However, he doesn’t know much about how football operations run. From the Jon Gruden mistake to the state of the franchise today, recycling one head coach a year, the Raiders under Mark Davis have not found the success they did under Al.

Al worked his way up the coaching ranks and served as the commissioner of the American Football League before he took the reins of the Raiders. But Mark was simply given that right as the next of kin. And in the last decade and a half, he hasn’t been involved in personnel decisions. That difference between the father and the son is visible when you look at the team’s record today.

In 2024, he sold 10.5% of the franchise to a group of investors that notably included seven-time Super Bowl champion and FOX Sports broadcaster Tom Brady. Meanwhile, Durban and Meldman are slowly taking over the Raiders. Let me break down their investment in the franchise:

• Once the latest transaction is completed, the investment group is expected to control nearly 40% of the team, the sources said. Sportico has the team’s value at $7.9 billion, ranking ninth in the NFL.
• A few months after Brady became the minority owner of the team in 2024, Aldo Durban and Michael Meldman each acquired a 7.5% stake in the Raiders, based on a $6.5 billion valuation.
• Already, earlier this year, the owners of the league approved a plan that would allow Durban to eventually pursue a majority stake in the franchise if Mark Davis or his heirs decide to sell. They had already purchased an additional 3.5% stake at the time.

Davis, however, remains adamant that “nothing” has changed and that “absolutely everything runs exactly the way it’s been.” But there’s one reason that might have influenced Davis the most.

A key reason behind the recent developments seems to be the passing of Carol Davis, Davis’ mother, during the last season. Her death reportedly prompted him to provide the NFL with a clearer succession plan moving forward.

“The NFL forces you to have a succession plan,” Davis said. “And up until [five] months ago, my mom and I were both alive, and my mom passed away.”

The Raiders have remained under the stewardship of the Davis family since Al Davis took control as principal owner in 1972. As one of the most influential figures in football history, his legacy was officially cemented with his 1992 induction into the Pro Football Hall of Fame.

As the changes continue, questions have been raised about how these new ownership structures affect Tom Brady’s stake in the franchise. He has become the face of the Vegas leadership group and has a growing influence on how the team operates. But would the gradually changing ownership mean anything?

What does the shifting Raiders’ stake mean for Tom Brady?

With significant changes coming to the Las Vegas Raiders ownership group, there’s a possibility of a gradual change of role for Tom Brady, who owns a minor 5% stake in the Silver and Black. Since buying his stake in the franchise in 2024, he has functioned as the de facto face of the franchise as its on-field struggles continued.

Brady acts as a high-level strategic advisor and “sounding board” for owner Mark Davis. Despite framing it as a passive, long-term role, Brady is deeply involved in football decisions, including influencing coach/GM hires, drafting, and quarterback evaluations. Capitalizing on this aspect, Egon Durban is expected to present Brady with a bigger responsibility if he takes full control of the Raiders.

“Should he decide, Durban would likely take over. And it’s believed by some that this would give minority owner Tom Brady even greater influence if/when he ever decides to fully embrace his role with the team,” NBC Sports reported. “For now, Brady has kept his distance, even though Davis may have expected more involvement from Brady. At some point, Brady could decide to limit his various cash grabs and focus on taking the Raiders’ football operation by the eyepatch.”

The Raiders are at a crossroads, with sweeping changes reshaping the franchise from the top down. Mark Davis’s steady sell-down signals a deliberate transition. The wildcard remains Tom Brady, whose level of involvement could ultimately define what this new era of Raiders football looks like. The Silver and Black are no longer just rebuilding a roster; they are rebuilding an entire organization.