Ari Emanuel and Mark Shapiro Acquire Minority Stakes in Las Vegas Raiders

Ari Emanuel and Mark Shapiro are each acquiring personal minority stakes in the Las Vegas Raiders, according to multiple reports. The stakes are expected to be below 10%, and the deals are anticipated to close this month.

The Details

Deadline reported that Ari Emanuel and Mark Shapiro are each acquiring personal minority stakes in the Las Vegas Raiders. The entertainment industry publication, listed as a tier-one source, said each stake is expected to be below 10%.

Yahoo Sports, citing The Hollywood Reporter, also reported that Emanuel and Shapiro are buying personal stakes in the Raiders. That account, listed as a tier-two corroborating source, said the deals are expected to close this month.

The purchases come as Raiders owner Mark Davis has been selling off portions of the team, according to Deadline. That follows the previously approved ownership stake taken by retired quarterback Tom Brady in 2024.

In a separate transaction, CNBC reported that a group led by Egon Durban is buying a 25% stake in the Raiders at a $9.9 billion enterprise valuation. That reporting, listed as a tier-one adjacent source, said league approval for the deal was pending at the NFL owners meeting scheduled for May 19.

Context

Emanuel is the chief executive officer of TKO and executive chairman of WME Group, according to Yahoo Sports, which cited The Hollywood Reporter. Shapiro is president and chief operating officer of TKO and president and managing partner of WME Group, the same report noted.

CNBC, in its 2025 NFL valuations, valued the Raiders at $9.3 billion. The network said the new transaction implies a $9.9 billion enterprise value after accounting for the NFL flip tax. Despite these minority stake sales, Mark Davis remains the controlling owner of the Raiders, according to CNBC.

No conflicting reports were noted among the three sources consulted for this story. The exact purchase price and precise percentages for Emanuel and Shapiro were not publicly disclosed.

What's Next

The personal stakes for Emanuel and Shapiro are expected to close this month, according to Yahoo Sports. League owners were also scheduled to consider the pending 25% sale to Egon Durban’s group at the May 19 owners meeting, CNBC reported.