NFL owners approved a succession plan Tuesday that gives Silver Lake co-CEO Egon Durban the option to increase his stake in the Las Vegas Raiders. The plan allows Durban and limited partner Michael Meldman to purchase an additional 3.5% of the franchise from owner Mark Davis now, with potential for another 3.5% stake later.

Davis, who has no children, emphasized he has no intention of selling controlling interest in the team his family has owned since 1972. His mother, Carol Davis, died last year at 93, leaving him as the sole family representative. The NFL requires owners to have succession plans in place. Davis previously sold stakes to former NFL great Tom Brady and others in recent years.

The Raiders succession plan passed during the NFL annual meeting with the required 24 affirmative votes from the 32 franchises. Davis, 70, told Raiders.com the development means "Nothing. Absolutely everything runs exactly the way it's been." Silver Lake, which already owned 7.5% of the Raiders after a 2024 purchase, manages investments including stakes in Madison Square Garden Sports and Fanatics Collectibles.