The Raiders are willing to sell a minority stake in the franchise, owner Mark Davis said on Wednesday afternoon following the NFL owners meetings.
While that could entice a private investor to help facilitate construction of a new, local stadium for a franchise stuck in the past-its-prime O.co Coliseum, Davis said the franchise’s willingness to sell shares is not designed solely with a venue in mind. Davis said an available stake could bring in a new partner who could help the franchise in several ways.
“It’s not to bridge the funding gap (for an Oakland stadium), but it would be to bring somebody in that would want to participate on both sides of the equation,” Davis said. “That’s always been available.”
It’s uncertain whether that will happen, but the Raiders are open to it.
Davis told reporters on Tuesday that he would not sell a majority share of the team under any circumstances, and that he would be the team’s majority owner “for the rest of my life.”