CNBC Television · Nov 5, 2026 · 35m · 26m saved
With Mark Davis, Owner of the Las Vegas Raiders
Photo via businessinsider.com
The Raiders were worth about $325M when Mark's father, Al, died 15 years ago, and Mark Davis, owner of the Las Vegas Raiders, told CNBC Sport the Podcast that Sportico's valuation model now puts the team at $13B.
"15 years ago, when my father passed away, the team was trading at about 325 million dollars... now the Wizard of Oz has valued us at 13 billion dollars." — Mark Davis
Most owners selling minority stakes take the highest bid, often from private equity. Mark said private equity would have paid much more than the group he picked, and he chose people who could help run the team instead.
Mark inherited the franchise from his father and moved it from Oakland to Las Vegas. He also owns the WNBA's Las Vegas Aces, a team he bought after a season-ticket neighbor told him to.
The full interview is covered here so you can skip it. 35 minutes of audio, 9 minutes of reading.
Here are the 7 takeaways that matter.
Key Takeaways
Mark says private equity would have paid more than the Brady-led investor group he chose
The Raiders' value went from about $325M to $13B in 15 years, by Sportico's model
A stadium used 365 days a year reverses the usual NFL split between national and local revenue
The Raiders do not get the money from high resale ticket prices, Mark says
Mark calls buying the Aces one of the worst deals he could have made on cash flow
Mark is not a fan of sports betting, especially proposition bets, and cannot say whether the revenue is worth the risk
1. A Five-Year Investor Plan
Mark said the new ownership group was planned, not assembled on the fly. Tom Brady came first, followed by Tom Wagner, Egon Durban, Mike Meldman, Michael Dell, Mark Shapiro and Ari Emanuel.
Mark built the Raiders' new ownership group over five or six years, starting with Tom Brady
"It's been about a five or six year plan. Bringing in Tom Brady was number one was to bring in somebody that had football background knowledge." — Mark Davis
The plan was tied to the move from Oakland to Las Vegas. Mark described the old Raiders as a small-market family business that needed bigger infrastructure in the entertainment capital of the world. It took a five-year fight with the league to get the Brady deal approved.
Mark recruited Brady because he says he does not know football himself
"For me, it was easy to understand that I didn't know football, and I needed to get somebody to do football. That's why Tom Brady was at the top of my list." — Mark Davis
Brady fills the gap left by his late father's football knowledge, and Egon Durban of Silver Lake brings business sense and connections. Mark said his own rule is to hire people who know what he does not and let them work. The brand his father built gave him the patience to do that.
"The brand that my father built, the mystique about the Raiders, made it possible for me to have patience... we're really a global brand." — Mark Davis
