Maccabi Tel Aviv Basketball Ownership Dispute Heads to Arbitration
Translated & summarized from Walla by baba
The story in 4 lines · by baba
- Maccabi Tel Aviv basketball club ownership dispute goes to arbitration Sunday.
- Shimon Mizrahi and Recanati family exercised right of first refusal on shares.
- Richard Deitz also used right of first refusal and filed a lawsuit.
- The arbitration follows claims of inconsistent behavior in share dealings.
The arbitration process within the management of the Maccabi Tel Aviv basketball club is set to begin this coming Sunday. Both sides are confident in their positions, and it remains uncertain whether a swift resolution will be reached or if the dispute will extend over several meetings.
In the interim, Shimon Mizrahi and the Recanati family have exercised their right of first refusal regarding Ben Ashkenazi's sale of shares to Jason Levin. This allows them to acquire a portion of the nine percent Ashkenazi intended to sell, bringing it under their control.
Previously, Richard Deitz also utilized his right of first refusal, specifically concerning the sale of the Recanati family's shares to Levin. The arbitration was initiated because Deitz claimed that Mizrahi's exercise of his right of first refusal on the Recanati shares was inconsistent with Mizrahi and his partners' prior actions.
Concurrently, Deitz has filed a lawsuit against Levin and the deal's intermediary, businessman Guy Harel.
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