Maccabi Tel Aviv Owner Calls for Ego to Be Set Aside in Ownership Dispute
Translated & summarized from N12 by baba
Maccabi Tel Aviv owner Richard Deitz issued a statement regarding the club's ownership dispute, announcing that the conflict is moving to arbitration. The court has clarified that Jason Levien's shareholding status is undecided, and other share transactions are frozen. Deitz expressed hope for a mediated settlement, urging all parties to prioritize the club's welfare over personal egos. He also noted Maccabi's unified stance with other EuroLeague clubs on league matters.
The story in 5 lines · by baba
- Maccabi Tel Aviv's ownership dispute is moving to arbitration, with mediation to be attempted first.
- Jason Levien's shareholding status remains undecided, and other share transactions are frozen.
- Owner Richard Deitz called for parties to set aside egos for the club's benefit.
- Deitz emphasized the need for improved corporate governance and professional management.
- Maccabi's ownership group is unified on EuroLeague expansion and franchise model issues.
Richard Deitz, one of Maccabi Tel Aviv's owners, has issued a statement clarifying his position in the ongoing ownership dispute and arbitration proceedings. Deitz stated that the ownership conflict is finally moving to arbitration, which he believes is the appropriate forum for resolving the legal issues.
According to Deitz, the court has clarified that Jason Levien's alleged 7.5% shareholding status is undecided. Furthermore, attempts by Shimon Mizrahi and Oudi Recanati to buy and sell Maccabi shares are frozen pending the arbitration outcome. Levien's attempt to exercise a right of first refusal to buy 9% of the shares was definitively rejected.
Both parties have agreed to attempt a mediated settlement before the arbitration begins, though a mediator has not yet been agreed upon. Deitz expressed his intention to approach mediation in good faith, emphasizing that any agreed solution must adequately address the club's needs. These fundamental requirements include an ownership and corporate governance structure that can support Maccabi Tel Aviv's return to a leading position in the EuroLeague, necessitating not only financial capability but also a commitment to organizational excellence.
Deitz criticized the "ad-hoc" management style that has repeatedly hampered the club, advocating for a professional and consistent approach in both business and sports operations. He believes that an effective mediated agreement meeting these demands would be positive news, potentially ending the dispute and enabling more efficient club management. Deitz urged all parties to set aside their egos and focus solely on the basketball club's best interests.
In a separate matter, Deitz participated via Zoom in a meeting of EuroLeague club owners. He noted that there were no disagreements within Maccabi's ownership group regarding the discussed topics: 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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