Maccabi Netanya Owner Sues Former Owner for $2.5 Million
Translated & summarized from N12 by baba
Ross Kestin, the current owner of Maccabi Netanya, is suing former owner Eyal Segal for 9.5 million shekels (approximately $2.5 million). The lawsuit claims Segal failed to cover the club's debts as agreed upon in the May 2025 sale. Kestin's company purchased the club under the assumption it would be debt-free, having already paid $3.5 million towards past obligations.
The story in 5 lines · by baba
- Maccabi Netanya owner Ross Kestin sued former owner Eyal Segal for 9.5 million shekels.
- The lawsuit alleges Segal breached the May 2025 sale agreement by not covering club debts.
- Kestin's company purchased the club with the understanding it would be debt-free.
- The plaintiff claims Segal owes approximately $2.5 million after failing to meet his financial obligations.
- The case was filed with the Football Association's arbitration institution.
Ross Kestin, the current owner of Israeli football club Maccabi Netanya, has filed a lawsuit for 9.5 million shekels (approximately $2.5 million) against the club's former owner, Eyal Segal. The suit was submitted to the Football Association's arbitration institution.
Kestin's company, Aliya Capital Partners LLC, acquired the club from Segal in May 2025. The lawsuit alleges that Segal breached the terms of the sale agreement, which stipulated he would cover all of Maccabi Netanya's debts and obligations by the end of the 2024-2025 season, with a cutoff date of June 1, 2025. Segal also reportedly committed to ensuring the club was debt-free by the end of 2025.
According to the lawsuit, the purchase agreement stated the club would be acquired "debt-free." Kestin's company transferred $3.5 million to help cover past debts. Segal and his company, Ranomann Ltd., personally guaranteed to cover all remaining liabilities and outstanding debts before the June 1, 2025, deadline, with a mechanism in place for Maccabi Netanya's accountant to determine any additional amounts Segal would need to inject by December 31, 2025.
The plaintiff claims that while they fulfilled their obligations, including transferring the $3.5 million and funding ongoing operations since the acquisition, Segal failed to meet his commitments. He allegedly did not cover past liabilities or inject the required funds, leaving approximately 9.5 million shekels owed to Maccabi Netanya and the purchasing company.
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