Maccabi Netanya New Owner Sues Previous Owner for $2.5 Million

A dramatic legal battle is unfolding at the Maccabi Netanya Football Club, as new owner Ross Kestin's company, Aliya Capital Partners LLC, has filed a substantial lawsuit for 9.5 million shekels (approximately $2.5 million) against former owner Eyal Segal and his company, Renoman.

The lawsuit, filed with the Football Association's arbitration institution, centers on Kestin's claim that Segal fundamentally breached the agreement for the club's sale. According to the lawsuit, the deal stipulated that Kestin would acquire a club entirely free of past debts. To facilitate this, Aliya Capital transferred $3.5 million designated for debt coverage. Segal and his company personally committed to settling all remaining club debts and obligations accrued up to the end of the 2024/2025 season.

Furthermore, the agreement included a mechanism where the club's accountant would prepare a binding report, and Segal would inject the remaining sums determined by this report by the end of 2025. Kestin alleges that Segal failed to transfer the necessary funds, leaving millions of shekels in outstanding debt.

Kestin, a Miami-based tech businessman, acquired control of Maccabi Netanya from Segal in May 2025, concluding Segal's nine-year ownership. Kestin, who leads the investment fund Aliya Capital Partners, had promised significant resource injections and infrastructure upgrades to elevate the club. His investment fund recently saw a massive surge in value due to an early investment in Elon Musk's SpaceX, with their $240 million stake reportedly growing to approximately $4.4 billion.

Kestin is currently launching a new investment fund aiming to raise between $250 million and $400 million, primarily from wealthy families. This fund will focus on ventures linked to entrepreneurs from the "PayPal Mafia," including figures like Musk, Peter Thiel, and Reid Hoffman, with 75% of the capital earmarked for these investments.