Maccabi Haifa Football Club Up For Sale For $100 Million
Translated & summarized from Ynet by baba
Maccabi Haifa football club is on the market for $100 million, with owner Yaakov Shahar seeking to sell full control. Investment bank Raine Group has been hired to find a buyer, potentially a combination of a billionaire and a group of tech entrepreneurs. This is Shahar's latest attempt to sell the club he has owned for 35 years, following a previous failed deal with American investors. Shahar insists the buyer must ensure the club's continued success.
The story in 5 lines · by baba
- Maccabi Haifa football club is being sold for $100 million by owner Yaakov Shahar.
- Investment bank Raine Group is seeking a buyer, possibly a joint venture of a billionaire and tech entrepreneurs.
- Previous negotiations with American investors led by Adam Fried failed in late 2023.
- Shahar, owner for 35 years, will only sell to a buyer ensuring the club's continuity.
- Tech entrepreneurs like Tom Livne are reportedly involved in forming a potential buying group.
Yaakov Shahar, the 84-year-old owner of Maccabi Haifa football club, is making another attempt to sell the team, seeking $100 million for full ownership. This effort comes about six months after negotiations to sell half the club's shares to American investors failed.
Shahar and the heirs of Israel Kaz, his partners in ownership, have hired the investment bank Raine Group to find a buyer. The bank has begun contacting potential investors, considering the formation of a purchasing group that would combine a controlling owner with tech entrepreneurs who are Maccabi Haifa fans. The proposed structure involves a billionaire acquiring 51% of the shares, with a group of entrepreneurs holding the remaining 49%. Each entrepreneur's investment is expected to be between $5 million and $10 million.
Raine Group is reportedly looking for an investor of Len Blavatnik's caliber, though Blavatnik has stated he has not been approached. The entrepreneurs being contacted are associated with the "Greentech" forum, a group of tech professionals and fans. Tom Livne, co-founder of the transcription company Verbit, is leading the entrepreneurial effort. Other potential investors mentioned include Ofer Ben-Nun, Tal Slobodkin, Shimon Elkabetz, Ziv Paz, Tamir Bar Ilan, Ami Sircus, and Guy Nitzan. The hotelier David Fattal and shipping businessman Udi Angel may also join the group.
Raine Group, specializing in technology, media, and communications, has experience in sports acquisitions. Businessman David Chizik is reportedly a key figure due to his connections with Shahar and the bank's founders. The previous attempt to sell involved American investors led by Adam Fried, who negotiated to buy the Kaz family's 50% stake for a total valuation of $80 million, with an option to later purchase Shahar's shares. However, those talks collapsed due to disagreements.
Shahar, who has owned Maccabi Haifa for 35 years and considers it a life's work, is determined to sell but will only do so to a buyer who can ensure the club's continuity. The identity and capability of the purchaser to maintain the club's future will be a crucial condition for finalizing the deal.
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