Maccabi Tel Aviv Ownership Shakeup Expected Sunday

Maccabi Tel Aviv's ownership structure is poised for significant changes on Sunday, following months of turbulence within the club's management. Club Chairman Shimon Mizrahi is expected to exercise his right of first refusal to block the Rakanti family's sale of shares to Jason Levien. This move comes after Richard Deitz previously used his own right of refusal. Mizrahi, as an original shareholder, is anticipated to purchase approximately 25% of the 29% being sold, potentially increasing his stake to nearly 40% and making him the dominant shareholder.

The decision to exercise this right is reportedly part of a pre-planned strategy. Meanwhile, a shareholders' meeting is scheduled for Sunday, following a lengthy board meeting on Friday. During the Friday meeting, it was confirmed that 7.5% of the Rakanti family's shares would be sold to Levien, the maximum amount an original shareholder can sell without triggering a right of refusal. This sale will make Levien a shareholder, though not immediately a board member.

Following these maneuvers, Deitz is expected to hold around 30% of the shares, including 9% he acquired by exercising his right of refusal on shares previously intended for Levien from Ben Ashkenazi. Other shareholders may also refuse future share sales, potentially allowing Rakanti and Mizrahi to further consolidate their control at Deitz's expense. It is widely speculated that this latest refusal will not be the final twist in the ongoing ownership saga, with Deitz's side potentially challenging the validity of the new refusal, and further actions anticipated from Mizrahi and Rakanti.