ALAMEDA, Calif. (AP) -The NFL gave approval Wednesday to allow the Oakland Raiders to sell a 20 percent minority interest in the team to a small group of investors.
The deal gives the group no control of the franchise now or in the future. Owner Al Davis and his family remain in charge of the Raiders as they have for more than four decades.
The deal to sell the minority interest in the team was unanimously approved without debate at the NFL owners meeting in Philadelphia, league spokesman Joe Browne said.
The group buying the share is led by businessmen Paul Leff, David Abrams and Dan Goldring.
``They are thrilled to join the history and tradition of the Raiders,'' Amy Trask, the team's chief executive officer, said from Philadelphia. ``We are impressed with their passion for the Raiders and love for the game of football and we are excited to welcome them as limited partners of the Raiders.''
Two years ago, the Raiders settled a lawsuit with the heirs of one of the team's co-founders, E.W. McGah. The settlement reportedly included the sale of the McGah family's 31 percent stake in the team to Davis.
This latest deal completes Davis' search for a buyer of part of that stake.
Terms of the deal were not disclosed. According to an annual study by Forbes magazine, the Raiders were valued at $812 million, fifth lowest in the NFL.

Top NFL Public Bets

NFL Top Stories

Thumbnail Five Best NFL Week 12 Games Which teams are favored in the NFL on Thanksgiving Day? Here are the five best matchups for Week 12, coupled with the odds for each of those games.
Thumbnail NFL Week 11 Betting Recap How did the favorites and underdogs do in Week 11 of the NFL season? If you laid points as a NFL bettor, more than likely you cashed big on Sunday.
Thumbnail Eagles vs. Cowboys Prediction Will the banged-up Dallas Cowboys find a way to cover the spread tonight when they host their NFC East rivals the Philadelphia Eagles on Sunday...
Thumbnail Bills vs. Chargers Prediction Will the Los Angeles Chargers hand the Buffalo Bills another loss in Nathan Peterman's debut? The two teams will meet in L.A. at 4:05 p.m. ET.
Thumbnail Bengals vs. Broncos Pick Will the Denver Broncos be able to get back on track when they play host to the Cincinnati Bengals today at 4:25PM...

NFL Team Pages