Raiders owner Mark Davis is speaking out on the Ruggs situation ... saying the team will continue to love and support him following his fatal car accident.

"It’s devastating," Davis told the Las Vegas Review-Journal as he choked back tears.

"Obviously a loss of life ... it’s just a tragedy."

Davis explains the team released Ruggs the football player ... but as a person, they're "not going to abandon him. He’s part of our family."