The NFL approved the sale of a 3.5 percent stake in the Raiders to Silver Lake co-CEO Egon Durban at a team valuation of $11.1 billion, CNBC reported Tuesday. An additional 3.5 percent stake is expected to be sold to Durban later, bringing his total ownership to 7 percent. Durban and businessman Michael Meldman had previously purchased a combined 15 percent share in 2024 at a $6.5 billion valuation.

“Egon Durban bought 7 percent of the team, and he has an option to purchase the controlling interest of the team should I decide to sell,” primary owner Mark Davis told Raiders.com.

The $11.1 billion figure far exceeds the $9.3 billion CNBC assigned the Raiders in its 2025 NFL team valuation list. It also represents a 669 percent increase from the team’s $1.43 billion Forbes valuation in 2015, the year before relocation talks began. In 2016, when the move from Oakland to Las Vegas started, Forbes valued the Raiders at $2.1 billion.

Factors driving the rise include the $2 billion Allegiant Stadium (partially funded by $750 million in public money), numerous gaming and vendor partnerships signed upon relocation, and the team’s Henderson practice facility — sold for $191 million and leased back. The stadium has been a top revenue generator, named the top-grossing U.S. stadium and second-highest in the world by Billboard Magazine last year. A new NFL broadcast deal in 2021 and ongoing renegotiations have also boosted value.

Meanwhile, the Miami Dolphins announced Tuesday that the NFL approved a 1 percent sale valuing that team at $12.5 billion.

Davis has seen similar success with the WNBA’s Aces, which he bought in 2021 for $2 million. The franchise is now valued at $310 million on Forbes’ 2025 list — a 15,400 percent increase. Davis built the Aces a $40 million, 64,000-square-foot training facility next to the Raiders’ Henderson headquarters, which opened in 2023. The Aces have won three WNBA championships under his ownership.