Richard Daum Increases Stake in Maccabi Tel Aviv to 55.5 Percent
Translated & summarized from Walla by baba
Richard Daum has increased his ownership in Maccabi Tel Aviv basketball club to 55.5% by exercising his right of first refusal, preventing a sale to Jason Levin. Daum cited a desire to protect the club and ensure its continued success in European basketball.
The story in 5 lines · by baba
- Richard Daum now owns 55.5% of Maccabi Tel Aviv.
- He blocked a sale to Jason Levin by exercising his right of first refusal.
- Daum stated his goal is to protect the club and restore its European elite status.
- He believes an outside investor posed too great a risk to Maccabi.
- Daum has been involved with the club since 2013.
Richard Daum has significantly increased his ownership in the Maccabi Tel Aviv basketball club, acquiring an additional 38% of the shares, bringing his total stake to 55.5%. This move comes after Daum exercised his right of first refusal to prevent the sale of the club's shares from the Recanati family to Jason Levin.
Daum stated his primary motivation was to "protect Maccabi," expressing concern that transferring control to an investor with no prior connection to the club or experience in European basketball would involve "excessive risk." He indicated a preference for a gradual process rather than a "leap into the unknown."
In a detailed statement, Daum emphasized that Maccabi is more than a sports club or financial asset, describing it as a "way of life" and a "passion." He highlighted his decade-long immersion in the club since 2013, learning its history, culture, and observing the work of coaches like David Blatt. He stressed that understanding Maccabi requires time and acknowledged the fans' desire for immediate results.
Daum outlined his mission to move past internal struggles, build excellence throughout the club with world-class expertise, and restore Maccabi to its status among Europe's elite clubs, while continuing to compete for domestic championships. He aims to honor the club's legacy while empowering a new generation to carry its tradition forward. Looking ahead to the new season, Daum expressed optimism about the team's talented roster, coaching staff, and the crucial role of the fans, calling them the club's "real secret weapon."
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