Maccabi Tel Aviv Basketball Club Ownership Shifts Amidst Internal Disputes

Shimon Mizrahi, the chairman of Maccabi Tel Aviv Basketball Club, announced Saturday evening his decision to exercise his preemptive right to purchase additional shares, thereby blocking Richard Deitz's acquisition. Mizrahi's move will increase his stake to approximately 40%, making him the primary shareholder. Concurrently, it was decided to sell shares to Jason Levin, a move slated for shareholder approval on Sunday. Following these transactions, the ownership structure will be: Shimon Mizrahi with 40%, the Rekanati family with 21.5%, Richard Deitz with 21%, Ben Ashkenazi with 10%, and Jason Levin with 7.5%.

Mizrahi stated that his love for the club and concern for its future drove his decision to buy more shares, emphasizing his lifelong commitment. He addressed what he termed "unrelenting slander" against his partners and the club's leadership, asserting that his priority remains the players, coaches, staff, and fans. He explained that the current situation originated from the Pederman family's decision to sell 50% of their shares, triggering the Rekanati family's initial preemptive right.

Mizrahi welcomed Jason Levin as a new shareholder, describing him as a "warm Jew and Zionist" with significant financial resources and experience in sports management, including NBA and EuroLeague connections. He highlighted the upcoming 50th anniversary of the club's first European Cup win in 1977 and stressed that ownership requires dedication and a commitment to the club's well-being above personal gain. Mizrahi warned against hostile takeovers by those who do not prioritize Maccabi's interests, stating the club is not for sale.

He also revealed that the club has allocated a record $32 million budget for player and staff acquisitions for the upcoming season, citing the signings of Yam Madar and the return of Bonzie Colson as examples of this commitment. Mizrahi expressed hope for tranquility within the club, allowing the team to focus on the upcoming challenges and its performance, emphasizing that true love for Maccabi means providing it with peace.