Richard Daiz Exercises Right of First Refusal to Gain Control of Maccabi Tel Aviv Basketball Club

American-Jewish businessman Richard Daiz announced Friday his intention to become the controlling partner of the Maccabi Tel Aviv basketball club. Daiz, who has held a 17.5% stake since 2013, exercised his right of first refusal to purchase the shares held by the Recanati family, Shimon Mizrahi, and Ben Ashkenazi. This move is a direct response to their plan to sell their controlling interest to fellow American-Jewish businessman Jason Levien.

In a statement, Daiz declared his action was "for one reason: to protect Maccabi." He explained that the Recanati family, Mizrahi, and Ashkenazi informed him of their intent to sell their control to Levien, prompting him to activate his preemptive rights on their 38% stake. This acquisition is expected to increase Daiz's ownership to at least 55.5%, potentially reaching 62%.

Daiz expressed concern that transferring control to an investor with no prior connection to Maccabi or experience in European basketball would involve excessive risk. He emphasized that owning the club is more than a business opportunity; it is a responsibility to preserve and lead it. He praised the team's fans and stated his mission is to move past internal disputes, build excellence throughout the club with world-class expertise on the board, and restore Maccabi to its status among Europe's elite clubs, while continuing to compete for championships in Israel.

The ownership battle follows significant disagreements within the Maccabi Tel Aviv ownership group that emerged last summer. The Federman family departed the ownership after approximately 50 years, selling their 29% stake for $50 million to the Recanati family. The Recanati family, along with smaller partners Mizrahi and Ashkenazi, now intended to sell their shares to sports entrepreneur Jason Levien, a plan Daiz strongly opposed.