The Las Vegas Raiders are adding a new group of high-profile minority investors, including Michael Dell and Ari Emanuel, according to a report from Bloomberg.
Other new investors include Mark Shapiro and Joseph Baratta. Existing Raiders investors Egon Durban and Michael Meldman are also increasing their ownership stakes in the franchise.
The transaction values the Raiders at approximately $9.9 billion, according to reports cited by Bloomberg, CNBC, and Sports Business Journal.
The new investors are purchasing stakes previously held by First Football, a consortium led by Paul Leff, David Abrams, and Dan Goldring, which reportedly owned a combined 25.3% interest in the team since 2007.
Following the deal, Durban’s ownership stake is expected to increase to 22%, while Meldman’s stake will rise to 12.9%. Dell is expected to hold approximately 5.3%, Baratta 1.7%, Emanuel 1.4%, and Shapiro 0.6%.
Despite the new ownership additions, Mark Davis will remain the controlling shareholder of the Raiders.
The investment marks the first NFL ownership move for Emanuel and Shapiro, both of whom serve as senior executives at TKO Group Holdings and WME Group. Reports indicate the investments are being made personally rather than through TKO or WME corporate entities.
Bloomberg reported that the NFL approved the ownership changes during league meetings this week.
