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Politics05:37 · 1h ago

Maccabi Tel Aviv Ownership Battle Could Last All Season

WallaCenter
Translated & summarized from Walla by baba
The story · English

Maccabi Tel Aviv is facing a significant day in its ongoing ownership dispute, following a tumultuous weekend. Richard Deutsch, who initially exercised his right of first refusal on a deal involving the Recanati and Levin families, is filing a petition against recent transactions. This includes challenging Shimon Mizrahi's refusal of a deal on Saturday and his declaration to acquire more shares.

Deutsch aims to prevent Jason Levin from entering the club, despite Mizrahi's statement that he and Recanati have decided to admit Levin. The London-based businessman will seek an injunction against the deal and its approval by the association's assembly. Simultaneously, the association's members are set to approve the Recanati family's sale of 7.5 percent of the club's shares to Levin, formally making him a shareholder.

Deutsch had previously announced his intention to purchase 38 percent of the club's shares using his right of first refusal. However, Shimon Mizrahi blocked this acquisition on Saturday, stating he was also exercising his right of first refusal. Mizrahi had previously offered to sell 6.5 percent of his own shares to Levin, a deal he later rescinded. Mizrahi is expected to announce the exact percentage of the 29 percent Recanati intended to sell to Levin that he will purchase.

Ben Ashkenazi's 9 percent stake is slated to go to Deutsch, unless Mizrahi and Recanati exercise their right of first refusal, which they are anticipated to do later this month. A senior Maccabi Tel Aviv official commented that the situation is expected to go to arbitration and has been a "rollercoaster" for three months, suggesting the dispute could extend throughout the entire season.

In parallel, a group called "Staying on the Map" hung banners against Mizrahi on Saturday. This group protests the long-standing management of Maccabi Tel Aviv, previously focusing its efforts on the Federman and Recanati families.

Read the original at Walla
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