"Although sources close to Davis say he has no intention to sell his majority stake, the vote would mean that if and when Davis, or his heirs, did decide to sell, Durban, a limited partner, would have the option to buy the club. Owners would then have to approve Durban as the new controlling owner, per league rules."
"Four sources with knowledge of the situation said that owners will also vote on Davis selling roughly 7% of the team to Durban and another limited partner, Michael Meldman. That sale would put the team's valuation at nearly $10 billion, two of those sources said."
"Mark has no intention to sell his majority stake in the team. This sets up a smooth succession plan."
NFL owners are scheduled to vote on a Las Vegas Raiders succession plan at the annual league meeting in Phoenix starting March 29. The plan grants Silver Lake co-chief executive officer Egon Durban an option to purchase a majority stake in the team from longtime owner Mark Davis if Davis or his heirs decide to sell. Additionally, owners will vote on Davis selling approximately 7% of the team to Durban and limited partner Michael Meldman, valuing the team at nearly $10 billion. The league's Finance Committee has already approved the option agreement. Sources close to Davis confirm he has no intention to sell his majority stake currently, describing the arrangement as establishing a smooth succession plan for the future.
Read at ESPN.com
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