Richard Daetz to Gain Majority Stake in Maccabi Tel Aviv Basketball Club
Translated & summarized from Now 14 by baba
Richard Daetz is set to become the majority owner of the Maccabi Tel Aviv basketball club after exercising his right of first refusal on 38% of the shares, following an intended sale to Jason Levien.
The story in 4 lines · by baba
- Richard Daetz will likely control Maccabi Tel Aviv basketball club.
- He exercised his right of first refusal for 38% of shares.
- This follows a planned sale of controlling interest to Jason Levien.
- Daetz's stake would rise to at least 55.5%.
Richard Daetz, a current shareholder in the Maccabi Tel Aviv basketball club, has exercised his right of first refusal to acquire an additional 38% of the team's shares. This move comes after he was informed of a plan to sell controlling interest to businessman Jason Levien.
Daetz stated that he was updated on the sale intention by Udi Recanati, Chairman Shimon Mizrahi, and Ben Ashkenazi. Following this notification, he decided to exercise his pre-emptive right.
If this acquisition is finalized according to shareholder agreements, Daetz's total ownership will increase from his current 17.5% to at least 55.5%, potentially reaching 62%. Daetz initially joined the ownership group in 2013 alongside Ben Ashkenazi.
This development follows months of shifts in the club's ownership structure. Earlier this year, the Recanati family significantly increased their stake by purchasing the Federman family's shares. Subsequently, negotiations began to bring in Jason Levien, an American businessman formerly with the NBA's Memphis Grizzlies. Daetz's exercise of his right of refusal now potentially alters this trajectory, positioning him to become the controlling owner of Maccabi Tel Aviv.
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