Maccabi Tel Aviv Owner Criticizes Former Partners
Translated & summarized from Walla by baba
Maccabi Tel Aviv owner Udi Recanati criticized former partners Danny Federman and sponsor Arik Shulman in a leaked conversation, citing management disagreements and Shulman's aggressive attempts to gain control. Recanati also discussed plans for new partners and significant future investment.
The story in 6 lines · by baba
- Owner Udi Recanati criticized former partners Danny Federman and Arik Shulman.
- Recanati accused Federman of working behind the scenes and blocking budget increases.
- He described sponsor Arik Shulman as too aggressive and power-hungry.
- Recanati's decision to buy out Federman was influenced by Shulman's actions.
- The club spent $31.8 million this past season.
- Recanati seeks younger partners and has secured future investment.
Maccabi Tel Aviv owner, Udi Recanati, has broken his silence regarding recent turmoil within the basketball club's management, revealing his frustrations with former partners Danny Federman and main sponsor Arik Shulman.
In a leaked conversation with a fan, Recanati explained that his family's inability to work with Danny Federman stemmed from fundamental disagreements on club management. "We didn't get along with him," Recanati stated, contrasting Danny with his father, whom he held in high regard. He accused the Federmans of working "under the table, behind the back" and hindering budget increases, noting that the club spent $31.8 million this past year.
Recanati also expressed strong reservations about the club's main sponsor, Arik Shulman, from their first meeting. He described Shulman as "too aggressive" and attempting to take control, rather than focusing on the club's well-being. Recanati recounted how Shulman's interference, even after being appointed a director, pushed him to purchase the Federman family's shares to prevent Shulman from becoming an owner.
Looking ahead, Recanati emphasized his desire for younger partners with management experience, particularly in sports and the NBA, citing Jason Levien as an example. He highlighted Levien's financial commitment of $10 million annually for the next three years, in addition to covering any deficits. Recanati stated his willingness to reduce his own stake significantly, even to 5%, as long as the club is managed by capable individuals.
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