Maccabi Tel Aviv Ownership Battle Heads to Court Amid Fan Protests

Maccabi Tel Aviv is facing a critical juncture in its ownership structure, with a fierce battle among shareholders escalating towards legal action. Richard Daetz, who exercised his right of first refusal, plans to petition the court for an injunction to block the entry of businessman Jason Levin and to nullify Shimon Mizrahi's counter right of refusal. This move aims to halt recent share sales and prevent Levin from becoming a partner.

Simultaneously, a board meeting is scheduled to approve the sale of 7.5% of the Rekanati family's shares to Levin, officially making him a shareholder. Daetz opposes this, arguing that a new investor without ties to European basketball poses an excessive risk to the club. The conflict intensified over the weekend with public exchanges between the parties.

Mizrahi issued a sharp open letter criticizing Daetz's alleged "hostile takeover" intentions, asserting that the club should serve its members, not the other way around. He also revealed a record budget of $32 million for player acquisitions, alongside Rekanati. Daetz responded with a video message to fans, emphasizing that Maccabi is more than a business and that he aims to preserve its passion and legacy.

Fan protests are also growing, with the "Staying on the Map" group demonstrating against Mizrahi's actions. They displayed signs urging him to choose between Maccabi and the interests of Rekanati and Levin, demanding he retract his exercise of the right of first refusal. The group expressed deep disappointment, stating they never expected such a move from Mizrahi, a long-time symbol of the club.

The ownership map has been drastically redrawn. Mizrahi now holds approximately 40.5% after exercising his right to purchase a significant portion of Rekanati's shares. Daetz holds about 29.5%, the Rekanati family 21.5%, Levin 7.5% (pending approval), and Ben Ashkenazi holds 1%. Daetz's side intends to argue in court that Mizrahi's move is a sham designed solely to block him, questioning the validity of the 7.5% sale clause. Mizrahi and Rekanati may also seek to exercise their right of first refusal on Ashkenazi's shares later this month. A senior Maccabi official anticipates the dispute could lead to arbitration and legal rulings, potentially dragging on for an entire season.