The recent shakeup in the front office of the Las Vegas Raiders may have been due to significant financial irregularities that date back a decade, according to a published report by FrontOfficeSports.com.
Three executives have left the team in recent weeks, including President Marc Badain, CFO Ed Villanueva, and Controller Araxie Grant. A fourth executive — Brandon Doll. Doll, the club’s former vice president of strategy and business development — has also left the organization but FOS.com stated its sources said he left for other reasons than these accounting issues.
Forbes SportsMoney Managing Editor Mike Ozanian also tweeted on Thursday, “Breaking: Two NFL insiders have told me Raiders are facing very big tax implications from money not reported as income and this is behind the departure of staff recent weeks.”
The Raiders have not addressed any specific reasons these executives have left the organization. In a statement announcing Badain’s exit after 30 years with the team on July 19, owner Mark Davis said “I wish Marc well … in whatever the future holds.”
Villanueva had been with the organization for 19 years, while Grant had been team controller for about 1.5 years. Dan Ventrelle has assumed Badain’s role on an interim basis.
Significant financial irregularities have led to internal investigation
FOS reported last week that an internal investigation has been launched by the team, which is ongoing. The internal investigation is being assisted by the team’s outside legal counsel, Arnold & Porter.
FOS had reached out to Arnold & Porter, but the firm declined to comment. It also left messages for the four executives who have left the team, but have not heard back.
Badain was Raiders president for six years, having spent his entire professional career with the team for 30 years.
“The successful construction and operation of Allegiant Stadium has been unequivocally the most challenging part of my 30 years with the organization,” Badain said. “Seeing it through to the end has been rewarding beyond measure. Together the Raiders and Las Vegas accomplished what seemed impossible. Now that the project is complete it is time for me to focus on my family and look ahead to new pursuits.”