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00:02First Football agreed to sell its 25% stake in the NFL's Las Vegas Raiders to a group led by
00:08Silver Lake co-CEO Egon Durbin at a $9.9 billion valuation, according to people familiar with the
00:15deal, according to CNBC. The transaction carries a total consideration of $11 billion,
00:21including a 10% flip tax paid to the NFL and shared among the league's other teams.
00:27First Football bought 20% of the Raiders in 2007 and later increased its stake to 25%
00:34at a weighted average valuation of about $700 million. The deal requires NFL approval at next
00:41week's owners meeting. Mark Davis will remain the controlling owner with 36% of the team,
00:46while Durbin will become the largest minority owner with more than 11%.
00:51Tom Brady and Tom Wagner bought about 10% of the Raiders in 2024
00:55at a $3.5 billion valuation plus a flip tax.
00:59For all things money, visit Benzinga.com.
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