Maccabi Tel Aviv Ownership Dispute Moves to Arbitration
Translated & summarized from Sport5 by baba
Richard Deitz, a co-owner of Maccabi Tel Aviv, announced that the club's ownership dispute will move to arbitration, with parties also agreeing to attempt mediation. The court has put a hold on share transactions and Levien's shareholder status remains undecided. Deitz emphasized the need for professional management and a focus on the club's needs, urging all parties to set aside egos. He also noted Maccabi's alignment with other EuroLeague clubs on league expansion and NBA Europe matters.
The story in 5 lines · by baba
- Maccabi Tel Aviv's ownership dispute will proceed to arbitration, with parties also agreeing to mediation.
- Jason Levien's shareholder status and attempts to buy shares are currently frozen by the court.
- Co-owner Richard Deitz called for professional management and an end to 'ad-hoc' style.
- Deitz urged all parties to prioritize the club's best interests over personal egos.
- Maccabi Tel Aviv's ownership group is unified on EuroLeague expansion and NBA Europe issues.
Co-owner Richard Deitz has issued a statement clarifying his position in the protracted ownership dispute of the Maccabi Tel Aviv basketball club. Deitz announced that the ownership conflict will finally proceed to arbitration, which he described as the appropriate forum for resolving the legal issues.
According to Deitz, the court has clarified that Jason Levien's status as a shareholder with an alleged 7.5% stake has not yet been determined. Furthermore, any attempts by Shimon Mizrahi and Oudi Recanati to buy or sell Maccabi shares are frozen until the arbitration process concludes. Levien's attempt to exercise a right of first refusal to purchase 9% of the shares for himself was unequivocally rejected.
As a step towards arbitration, all parties have agreed to attempt a mediated settlement, though a mediator has not yet been chosen. Deitz stated his intention to engage in mediation in good faith, emphasizing that any agreed-upon solution must adequately address the club's needs. These fundamental requirements include an ownership and corporate governance structure capable of supporting Maccabi Tel Aviv's return to a leading position in the EuroLeague, necessitating not only financial capacity but also a commitment to organizational excellence.
Deitz stressed that the "ad-hoc" management style that has hindered the club repeatedly in the past decade must be replaced by a professional and consistent approach in both business operations and sports-related work practices. He expressed hope that if an effective agreement meeting these demands is reached through mediation, it will lead to the resolution of the dispute and a transition to more efficient club management. Deitz urged all parties to set aside their egos and focus solely on the best interests of the basketball club for the sake of the players, coaches, employees, and especially the fans.
In a separate matter, Deitz participated via Zoom in a meeting of EuroLeague club owners. He noted that there were no disagreements among Maccabi Tel Aviv's ownership group regarding the two topics discussed: the EuroLeague's franchise model and league expansion, and NBA Europe. Maccabi's stance aligns with the vast majority of other clubs on these issues.
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