Mark Davis, the majority owner of the Las Vegas Raiders, has agreed to sell a 15 percent stake in the franchise to investors Egon Durban and Michael Meldman, with each acquiring 7.5 percent.

The sale is set to be voted on at the NFL league meetings in December 2024, although Davis will maintain his controlling interest regardless of the outcome.

To facilitate Durban's purchase, Endeavor must divest from WME Sports' football representation due to NFL conflict-of-interest regulations.

This transaction follows Davis' earlier sale of a 10.5 percent stake in October 2024 to a group that included Tom Brady, Richard Seymour, and Tom Wagner.

In that previous sale, Brady and Wagner each acquired 5 percent stakes, while Seymour obtained a 0.5 percent stake.

Mark Davis, who has been the controlling owner since his father Al Davis' death in 2011, has overseen a challenging era for the team.

Under Davis' leadership, the Raiders have had only two winning seasons in 14 years, with the last being in 2021.

The team's performance has notably declined, finishing with a 6-11 record in 2022, 8-9 in 2023, and currently holding a dismal 2-8 record in the 2024 season.

Despite their struggles, the Raiders, who have won three Super Bowl championships, have not reached the Super Bowl since 2002.

There is some optimism for the future, as the Raiders could have an opportunity to draft a top quarterback in the upcoming 2025 NFL draft.

Davis played a crucial role in the Raiders' relocation from Oakland to Las Vegas, a move that was approved in 2017 and completed in 2020.

During Davis' tenure, the Raiders have made only two playoff appearances, both of which ended in losses in the Wild Card Round.