Maccabi Tel Aviv Ownership Drama Continues Amid Shareholder Disputes
Translated & summarized from Walla by baba
Richard Deytz has acquired 55.5% of Maccabi Tel Aviv shares, exercising his right of first refusal and complicating a planned sale to Jason Levin. Shimon Mizrahi and the Recanati family may still exercise their own rights to block Deytz's majority control.
The story in 5 lines · by baba
- Richard Deytz now holds 55.5% of Maccabi Tel Aviv shares.
- Deytz exercised his right of first refusal for shares intended for Jason Levin.
- Shimon Mizrahi may use his own rights to block Deytz's majority control.
- The Recanati family also has rights that could impact share distribution.
- Further developments are expected before and after a board meeting.
Maccabi Tel Aviv's tumultuous summer has seen another dramatic turn as Richard Deytz announced his decision to exercise his right of first refusal for the club's shares, acquiring 55.5% of the team. This move complicates the planned sale of shares to businessman Jason Levin.
Deytz's announcement follows his purchase of 29% of the shares from the Recanati family and 9% from Ben Ashkenazi, which were originally slated for sale to Levin. The current shareholder breakdown is now: Richard Deytz with 55.5%, the Recanati family with 29%, Shimon Mizrahi with 14.5%, and Ben Ashkenazi with 1%.
However, further twists are anticipated. Sources indicate that Shimon Mizrahi also holds a right of first refusal concerning the Recanati family's 29% stake. According to the original ownership agreement, Mizrahi can purchase more shares than a new shareholder, potentially allowing him to block Deytz's ascendance as the majority shareholder.
Additionally, the Recanati family and Mizrahi possess the right of first refusal for Ashkenazi's 9% share sale to Levin. This could enable them to reduce the percentage Deytz acquires through his own right of refusal, thereby preventing him from becoming the club's primary stakeholder.
A board meeting is scheduled for early next week, with expectations of further developments before and after the gathering. The situation remains fluid and far from resolved.
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