Closing Bell

Davis confirms reasons for Raiders' resignations

By Ben Fischer

NEW YORK -- Raiders Owner Mark Davis confirmed for the first time that team President Marc Badain, CFO Ed Villanueva and Controller Araxie Grant resigned in July because the team overpaid taxes it may not be able to recoup. “I think it’s pretty much clear now, or I don’t know if it’s clear now, but it was accounting irregularities,” Davis said. “That’s why if you see the CFO left, the controller left, and the president left, that’s what it was.” He declined to say how large the overpayment was or the exact nature of the tax, but said the team would “not necessarily” get that money back because of a statute of limitations. He said the issue “may” have originated in Oakland. When asked if it was a fair characterization to call the resignations “forced,” Davis said, “I would say it might be."

Badain shocked the NFL business world when he abruptly resigned July 19, just weeks before Allegiant Stadium opened to fans for the first time. It later emerged that Villanueva and Grant left the same day. Badain declined comment. Grant, who joined the Raiders in December '19 -- the team’s final days playing in Oakland after the move to Las Vegas was already in effect -- said, “Any sort of financial impropriety I was not involved in, and definitely happened way before I even started at that organization." Efforts to reach Villanueva were not immediately successful.

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