Richard Daum Increases Stake in Maccabi Tel Aviv to 55.5 Percent

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."