Maccabi Tel Aviv Shareholder Richard Deitz Blocks Sale, Seeks Majority Control

Richard Deitz, a significant shareholder in the Maccabi Tel Aviv basketball club, has exercised his right of refusal to block a sale of shares to Jason Levin. Deitz intends to increase his stake to 55.5%, which would represent a substantial rise from his current 17.5% ownership.

Deitz first acquired shares in the club in June 2013, expressing his enthusiasm for the team and its fans. He stated at the time that he was honored to join the ownership group and committed to upholding the club's tradition of success.

Deitz, who resides in London, is the founder and president of the investment firm VR Capital Group, which manages approximately $9.8 billion in assets. He holds degrees in economics and history from Yale University and has previously lived in New York and Moscow. His career in finance began at The First Boston Corporation before he co-founded Renaissance Capital in Moscow in 1995. He later established VR Capital Group in 1998.

VR Capital Group is known for its investments in countries facing severe macroeconomic crises, including significant investments in Argentina in 2001, Greece in 2012, and Ukraine in 2014. Deitz has a reputation as a tough negotiator in distressed debt markets, particularly in emerging economies. Notably, his fund increased its exposure in Ukraine even as the war began, while many other investors were divesting.