Richard Daetz Seizes Majority Stake in Maccabi Tel Aviv Basketball Club

Richard Daetz has exercised his right of first refusal to acquire the majority of shares in the Maccabi Tel Aviv basketball club, thwarting a planned sale to Jason Levien. The move comes after fellow shareholder Udi Recanati intended to sell his stake to Levien.

In a formal letter, Daetz stated he was informed of Recanati, Shimon Mizrahi, and Ben Ashkenazi's intention to sell a controlling interest to Levien. Daetz then invoked his right to purchase 38% of the club's shares, which will increase his total ownership to at least 55.5%, potentially reaching 62%. He explained his decision was solely to protect Maccabi, viewing the transfer of control to an outsider with no prior connection to the club or European basketball experience as too risky.

Daetz emphasized that Maccabi is more than a sports club or financial asset, describing it as a way of life and a passion. He highlighted the significant responsibility that comes with ownership, contrasting it with other shareholders seeking to reduce their financial commitment. Having joined the club in 2013, Daetz detailed his extensive immersion in its culture, history, and operations, including observing practices, traveling with the team, and interacting with players, staff, and fans.

Looking ahead, Daetz outlined his mission to overcome internal struggles, foster excellence throughout the organization with world-class expertise, and restore Maccabi to its status among Europe's elite clubs. He stressed the importance of honoring the legacy of past generations while empowering a new one to continue the tradition. Daetz expressed optimism for the upcoming season, citing a talented and character-driven roster, a top-tier coaching staff, and the crucial support of the fans, whom he called the club's true secret weapon.