Richard Daetz Acquires Majority Stake in Maccabi Tel Aviv Basketball Club

American businessman Richard Daetz has exercised his right of first refusal to purchase the majority of shares in the Maccabi Tel Aviv basketball club, preventing a sale to Jason Levin. Daetz announced on Friday that he has acquired the shares previously intended for sale to Levin, increasing his stake in the club to at least 55.5%, potentially reaching 62%.

Daetz stated his decision was solely to protect Maccabi, expressing concern that transferring control to an investor with no prior connection to the club or European basketball experience would be too risky. He emphasized that Maccabi is more than a sports club or financial asset, describing it as a way of life and a passion.

Having been involved with the club since 2013, Daetz detailed his extensive immersion in its operations, culture, and community, learning from coaches like David Blatt and interacting with players and staff. He acknowledged the fans' passion and impatience for results.

Daetz outlined his mission to overcome internal struggles, build organizational excellence with global expertise, and restore Maccabi to its status among Europe's elite clubs. He aims to honor the club's legacy while empowering a new generation, expressing optimism for the upcoming season with a talented squad and top-tier coaching staff. He concluded by highlighting the fans as the club's true secret weapon.