Big changes are unfolding for the Las Vegas Raiders as they head into the 2026 season. After landing the No. 1 overall pick and selecting Fernando Mendoza as a potential franchise cornerstone, the team is also entering a new era under head coach Klint Kubiak. Off the field, things are shifting as well, with long-time owner Mark Davis reportedly moving forward with plans to sell a 25% stake in the organisation.

“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,” said the people, asking not to be named, discussing private information. The Raiders’ valuation wasn’t clear. Sportico has the team’s value at $7.9 billion, ranking ninth in the NFL.”

Once the transaction is completed, the investment group, which also includes Michael Meldman, founder and chairman of Discovery Land Co., is expected to control nearly 40% of the team, the sources said.

Davis has been seen reducing his stake in the Raiders in recent years. 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.

A few months later, Aldo Durban and Michael Meldman each acquired a 7.5% stake in the Raiders, based on a $6.5 billion valuation. And then earlier this year, in March, 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.

At that time, Durban’s group also agreed to purchase an additional 3.5%, with the option to acquire another 3.5% by the end of the year. Davis has also not indicated any intention to sell his stake in the Raiders. In a March interview with Raiders.com, he emphasized that “nothing” has changed and that “absolutely everything runs exactly the way it’s been,” making clear that nothing has shifted in how the franchise is managed.

Those comments came before reports surfaced that Aldo Durban could be increasing his stake to 25% of the Raiders, so it’s still unclear whether any major changes are actually imminent. A key reason behind the recent developments seems to be the passing of Carol Davis, Davis’ mother, during 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.

But as the changes continue, questions have been raised about how these new ownership structures affect Tom Brady’s stake in the franchise, especially with the former New England Patriots quarterback becoming the face of the Vegas leadership group.

What does the Raiders’ 25% stake sale 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 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, and with Egon Durban positioning himself for potential control, the ownership picture is coming into focus. 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.