Ari Emanuel and Mark Shapiro, top execs at WME and TKO Group, are buying small ownership stakes in the Las Vegas Raiders.
A spokesperson for Emanuel and Shapiro confirmed that the sports and entertainment executives will take individual, personal stakes in the Raiders. The deal, expected to close later this month, will see them become minority owners in the team.
Mark Davis, son of legendary Raiders owner Al Davis, will continue to be the controlling shareholder of the team. In addition to Shapiro and Emanuel, others buying stakes in the Raiders are Dell Technologies founder Michael Dell and Joseph Baratta, Blackstone’s global head of private equity.
In addition, Egon Durban, CEO of private-equity firm Silver Lake (which controls both TKO and WME), and real-estate developer Michael Meldman are both increasing their ownership shares in the Raiders.
After the deals close, Emanuel will own 1.4% of the Raiders and Shapiro will hold a 0.6% interest in the team, Sports Business Journal reported. Durban’s stake will increase to 22% and Meldman’s will go up to 12.9%; Baratta will own 1.7%.
