Maccabi Tel Aviv Ownership Dispute Continues as Rights Exercised
Translated & summarized from Sport5 by baba
The story in 5 lines · by baba
- Mizrahi and Recanati family exercised right of first refusal on 9% stake.
- The stake was sold by Ben Ashkenazi to Jayson Levin.
- Richard Deitz had previously exercised his right of first refusal.
- Shimon Mizrahi used his veto power to exercise his right.
- The arbitration process will continue despite this development.
The power struggle over the ownership of Maccabi Tel Aviv basketball club is ongoing, with key stakeholders Shimon Mizrahi and the Recanati family exercising their right of first refusal on a 9% stake. This move comes as the parties await the commencement of arbitration proceedings.
The 9% stake was previously sold by Ben Ashkenazi to Jayson Levin. As part of Levin's larger acquisition deal, he was set to purchase 9 out of the 10 percent owned by Ashkenazi, leaving Ashkenazi with only 1%.
This latest development follows Richard Deitz's earlier exercise of his right of first refusal concerning the Recanati family's sale of shares to Levin. However, Shimon Mizrahi invoked his veto power, as an original shareholder, to exercise his own right of first refusal on the transaction.
Despite these maneuvers, the exercise of this new right of first refusal will not impact the upcoming arbitration. The arbitration was initiated by Deitz, who is contesting Mizrahi's right of first refusal regarding the Recanati family's share sale to Levin.
Read the original at Sport5The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Not the same event — other stories that share this one’s people, places, or theme: background, reactions, and follow-ups.
