American Businessman Richard Daech Acquires Majority Stake in Maccabi Tel Aviv Basketball Club

American businessman Richard Daech has significantly increased his stake in the Maccabi Tel Aviv basketball club, acquiring an additional 38% of the team's shares. Daech, who previously held approximately 17%, now controls at least 55% of the club, making him the majority owner. Sources familiar with the matter suggest Daech is coordinating with Arik Shulman, whose entry into the ownership structure was reportedly opposed by the Rakanti family.

In a statement, Daech explained his decision was solely "to protect Maccabi." He expressed concern that transferring control to an investor with no prior connection to the club or European basketball experience would have been excessively risky. Daech emphasized that Maccabi is more than a sports club or financial asset, describing it as a "way of life" and a "passion." He views ownership as a responsibility to preserve and lead the club.

Daech outlined his mission to end internal struggles, build excellence throughout the organization with world-class expertise on the board, and restore Maccabi to its status among Europe's elite clubs, while continuing to compete for domestic championships in Israel.