Maccabi Haifa Owner Seeks Buyer for 100% of Club

Yaakov Shahar, the owner of Israeli football club Maccabi Haifa, has initiated a significant move to find a buyer for 100% of the club's shares. The effort, first reported by Golan Hazani of the financial newspaper Calcalist, involves hiring the investment bank Raine Group to identify potential purchasers.

Hazani revealed in an interview that Shahar and the heirs of his late partner, Yisrael Kaz, have engaged Raine Group, a bank with experience in sports club acquisitions including Chelsea. The bank has begun approaching various parties, with a strategy to potentially form a purchasing group. This group could consist of a billionaire acquiring 51% of the club and a consortium of tech entrepreneurs buying the remaining 49% for investments ranging from $5 million to $10 million each.

Hazani described the move as highly unusual for an Israeli club, indicating Shahar's seriousness and perhaps urgency in selling. He noted Shahar's age, 84, and a previous unsuccessful attempt to sell, suggesting this professional approach aims to secure a deal. Hazani expressed belief that the eventual buyer will be Israeli.

The asking price is reportedly around $100 million, though Hazani anticipates the final sale price may be lower. He explained that engaging an investment bank signifies a strong desire to sell, exposing the club's sensitive data to potential buyers who are compensated based on the deal's success. The current plan is for a full 100% sale, a change from previous discussions about selling only 50%.