Maccabi Tel Aviv Ownership Dispute Escalates Amid Accusations

The battle for control of the Maccabi Tel Aviv basketball club continues despite the team's recent EuroLeague loss to Besiktas. Richard Deitz issued a sharp statement Wednesday criticizing Shimon Mizrahi and Udi Recanati over their exercise of a right of first refusal concerning Ben Ashkenazi's shares, which were slated for sale to Jason Levien.

Deitz claims he himself exercised his right of first refusal on the same deal on September 4. He accused Mizrahi and Recanati of shifting roles between buyer, seller, and intermediary in various transactions. Deitz detailed a series of share dealings, including Recanati's family purchasing 29% of the Federman family's shares on July 7 at a $170 million valuation, only to announce the sale of those same holdings to Levien at the same price a month later.

Further allegations from Deitz state that on August 31, Mizrahi and Recanati announced the sale of 6.5% and 7.5% of their own shares, respectively, to Levien. Days later, they were reportedly involved in facilitating Ashkenazi's 9% share sale, with Deitz claiming Mizrahi and Recanati negotiated the deal on Levien's behalf.

Deitz described a "ridiculous three-step maneuver" on September 5 where parties' positions on rights of refusal and the 29% share deal were altered again. He specifically criticized the current move, stating, "Udi and Shimon are attempting to exercise a right of first refusal on the sale of 9% of the shares, which they brokered four weeks prior." Deitz noted Recanati is now trying to buy 9% at a $200 million valuation, weeks after allegedly seeking to sell 7.5% for $170 million.

"The overall picture resembles someone playing ping-pong with themselves and losing. It is clear that this is not behavior befitting the owner of a serious sports club," Deitz stated, questioning the due diligence conducted before dealings with Levien, whom he described as a "completely unknown person."

Deitz concluded by asserting his actions are solely intended to protect Maccabi Tel Aviv, its fans, and the club from "hasty and ill-considered decisions," vowing to continue his determined efforts.