Maccabi Tel Aviv Basketball Club Ownership Dispute Escalates

A dispute over the future ownership of the Maccabi Tel Aviv basketball club has taken a new turn as Shimon Mizrahi and the Recanati family exercised their right of first refusal on Ben Ashkenazi's 9% stake in the club. These shares were originally intended for Jason Levin, and Richard Deitz had previously invoked his right of refusal concerning them.

Adding to the complexity, the parties are divided on who should participate in the arbitration process to determine control of the club. Mizrahi and the Recanati family insist on including Levin, arguing he is a shareholder and that Deitz himself had previously included him in court proceedings. Deitz, however, contends these are separate matters, and Levin was included in an injunction request solely to block the transfer of shares to him.

Miner District Court Judge Ariel Zimmerman will rule on the matter, and the arbitration can only commence after his decision. Deitz had initially sought to increase his holdings to approximately 55.5%, with the potential to reach 62.5% or more. Mizrahi subsequently announced his intention to exercise his right of first refusal, claiming priority in purchasing the shares. Now, he and the Recanati family are exercising this right regarding Ashkenazi's portion as well. The arbitration is scheduled to begin this coming Sunday.