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Durban Group to Acquire 25% Stake in Las Vegas Raiders for $9.9B

A group led by Egon Durban is acquiring a 25% ownership stake in the Las Vegas Raiders from First Football at a $9.9 billion enterprise valuation. The transaction totals $11 billion, which includes a 10% league fee, or flip tax, distributed among the other 31 NFL franchises. First Football acquired its initial 20% stake from Al Davis in 2007 and subsequently added another 5%, paying a weighted average valuation of approximately $700 million for those shares. Upon approval, controlling owner Mark Davis will retain 36% of the team, while Durban becomes the largest minority shareholder with over 11%. The deal requires NFL owners' meeting approval scheduled for May 19. The transaction is subject to relocation agreement provisions requiring purchase fees through March 2037.