Arik Shtilman Details Maccabi Tel Aviv Ownership Dispute Ahead of Arbitration

Arik Shtilman has publicly detailed his account of the escalating ownership dispute surrounding the Maccabi Tel Aviv basketball club, framing his narrative as a theory based on available information ahead of an upcoming arbitration hearing. In a dramatic social media post, Shtilman outlined what he described as a complex battle for control, involving attempts to sideline the Federman family, clandestine deal-making, and direct confrontation with the Recanati family and Shimon Mizrahi.

According to Shtilman, the conflict originated from a deteriorating relationship between the Federman and Recanati families. After initial attempts to bring in the American Wilf family were reportedly blocked, Shtilman entered the picture, acquiring 50% of "Fedenko," the entity holding 29% of Maccabi's shares. This move automatically triggered the right of first refusal on Federman's shares, intended to pave the way for new investors.

Shtilman claims a counter-plan was simultaneously developed with businessman Jason Levin, aiming to transfer 43% of the club to him, with Levin committed to covering the capital injections of existing partners. However, this faced strong opposition from other board members. Shtilman alleges the Recanati faction then attempted to alter the deal structure mid-process, offering Levin only 7.5% initially to enable him to exercise his right of first refusal.

The situation further complicated with the entry of Richard Deitz, who announced his intention to purchase the full 29% stake for approximately $50 million, providing a bank guarantee of 12 million shekels. Shtilman concluded his post with a firm message, expressing confidence that the opposing plan will not withstand arbitration and urging the other parties to minimize further damage, stating, "We will meet in arbitration, or not."

The arbitration process is expected to commence next week, with the arbitrator's identity agreed upon by all parties, marking the official shift of the club's future into legal proceedings.