Maccabi Tel Aviv Shareholders Trade Barbs Over Legal Proceedings

A public dispute has erupted between key shareholders of the Maccabi Tel Aviv basketball club, with Richard Daetz accusing the Rakanti family and Shimon Mizrahi of misrepresenting facts regarding legal proceedings. The conflict centers on the involvement of Jason Levin in ongoing arbitration.

Daetz claims that the Rakanti family and Mizrahi are conflating two separate legal processes. He argues that while Levin was included in a lawsuit Daetz initiated concerning the transfer of shares, Levin is not a party to the separate arbitration over alleged breaches of the shareholders' agreement, as Levin did not sign that contract.

In response, the Rakanti family and Mizrahi issued a joint statement accusing Daetz of "double-dealing" and presenting a misleading picture. They contend that Daetz cannot include Levin in one legal proceeding and then claim he is irrelevant to another. They questioned why Levin, relevant to Daetz's lawsuit, would suddenly become irrelevant for the arbitration, suggesting Daetz is manipulating the participants based on convenience.

Daetz countered that Levin was included in his injunction request because the suit aimed to halt a share transfer that the Rakanti family allegedly attempted to complete covertly without the required shareholder meeting. He stated the court has deemed this transfer not yet final. Daetz concluded by suggesting the Rakanti family and Mizrahi's lawyers should have advised them against issuing a misleading and embarrassing statement.