Maccabi Tel Aviv Ownership Dispute Heads to Court

Maccabi Tel Aviv's ownership structure is in turmoil as businessman Richard Daetz exercised his right of first refusal to acquire an additional 38% of the club's shares. This move, made just before a stormy board meeting on Friday, aims to block a deal where these shares, previously held by the Rekanati family (29%) and Ben Ashkenazi (9%), were slated to be sold to American businessman Jason Levien. Daetz, who has held 17.5% since 2013, stated his intention was to 'protect Maccabi.' However, sources suggest Daetz's move may have been premature.

Club chairman Shimon Mizrahi is expected to significantly alter the landscape by exercising his own right of first refusal on the Rekanati family's 29% stake. Mizrahi, along with the Rekanati family and originally the Federman family, are original signatories to the shareholders' agreement, granting them preferential rights over newer shareholders. According to sources close to Mizrahi and the club, he is likely to purchase these shares, potentially acquiring more than Daetz.

Following Mizrahi's potential move, the Rekanati family is reportedly set to exercise their right of refusal on Ben Ashkenazi's 9% sale to Levien. While Daetz's stake will increase substantially, he may not become the majority shareholder as initially planned.

This complex series of maneuvers is unlikely to conclude without legal battles. A senior club official stated, "If Shimon exercises his refusal, with very great certainty the entire matter will reach the court." The faction supporting Daetz, which opposes the Rekanati family, is reportedly prepared for a protracted legal fight.