Maccabi Tel Aviv Faces $2.55 Million Lawsuit Amidst Ownership Dispute

While Maccabi Tel Aviv's basketball team is experiencing a period of renewal on the court, particularly after a significant derby win against Hapoel Tel Aviv, internal turmoil is escalating within the club's management. VR Capital Group, a company holding 17.5% of the club's shares and led by businessman Richard Deitz, has filed a lawsuit seeking $2.55 million in damages. The suit targets Jason Levin's ENDVR MTA company and Guy Harel, who brokered a share acquisition deal involving the Recanati family and Shimon Mizrachi.

According to the lawsuit, the defendants allegedly orchestrated a coordinated effort with Naftali and Niuko to grant Levin's group ownership of the club, bypassing VR Capital Group's right of first refusal. The company accuses the defendants of breach of contract, unjust enrichment, negligence, and infringing on Deitz's rights, contrary to the shareholders' agreement.

The lawsuit further claims that the right of refusal for the Federman family's shares was used to transfer shares to Levin. VR Capital Group asserts that after exercising its right of first refusal in a deal involving Ben Ashkenazi, which would have increased its holdings to 55.5%, the defendants proceeded with another transaction, transferring approximately 14% of the club's shares to Levin's company (7.5% from Naftali and 6.5% from Niuko).

Responses from Jason Levin and Guy Harel are pending. The ongoing management struggles at Maccabi Tel Aviv have fueled significant controversy regarding the club's ownership and control structure. The share acquisition deal was intended to reshape the ownership landscape, but disagreements and legal actions among shareholders continue to destabilize the management of the prominent Israeli club.