Maccabi Tel Aviv Ownership Shake-Up Sees Richard Deitz Retain Control

Richard Deitz announced Friday he is exercising his right of first refusal to purchase Maccabi Tel Aviv basketball club shares, securing his control with 55.5% ownership. This move comes amid a turbulent summer for the club's ownership structure.

Previously, the Recanati family exercised their right to buy the Federman family's 14.5% stake, increasing their own holdings to 58%. The Recanatis then planned to sell 29% to a company owned by Jason Levin. However, behind the scenes, a larger deal was reportedly being negotiated to give Levin up to 52% of the club.

This larger deal involved Levin acquiring the 29% from Recanati, 7.5% more from Recanati, 6.5% from Shimon Mizrahi, and 9% from Ben Ashkenazi. Levin exercised his right to buy the 29% from Recanati and the 9% from Ashkenazi. He is expected to acquire Mizrahi's 6.5%, but potential issues with the original club ownership agreement might prevent him from buying the additional Recanati shares.

As a result, the current shareholder map is: Richard Deitz (55.5%), Recanati family (29%), Shimon Mizrahi (14.5%), and Ben Ashkenazi (1%).

Sources suggest Deitz's decision stemmed from anger over the extensive sale of shares to Levin, particularly after a previous attempt to bring the Wilf family into the club, led by the Federman family, was blocked. Deitz stated in his letter that while other shareholders sought to reduce their financial commitment, he believed transferring control to an investor with no prior connection to Maccabi or European basketball experience was excessively risky. He indicated a preference for a gradual process over a sudden leap into the unknown.