Maccabi Haifa Owner Seeks $100 Million Sale
Translated & summarized from Ynet by baba
Maccabi Haifa owner Yaakov Shahar is trying to sell the football club for $100 million, hiring Raine Group to find a buyer. The plan involves a billionaire acquiring 51% and a group of tech entrepreneurs taking 49%. This follows a failed attempt to sell half the shares to American investors six months ago. Shahar, 84, is committed to finding a buyer who will ensure the club's future.
The story in 5 lines · by baba
- Maccabi Haifa owner Yaakov Shahar is seeking $100 million for the club in a new sale attempt.
- Investment bank Raine Group has been hired to find a buyer for the Israeli football team.
- The proposed deal involves a billionaire buying 51% and tech entrepreneurs acquiring 49%.
- A previous attempt to sell half the club's shares to American investors failed six months ago.
- Shahar, owner for 35 years, will prioritize a buyer ensuring the club's continuity.
Maccabi Haifa owner Yaakov Shahar is making another attempt to sell the football club, seeking a full sale for $100 million. This effort comes about six months after negotiations to sell half the club's shares to American investors failed. Shahar and the heirs of former co-owner Yisrael Kaz have hired investment bank Raine Group to find a buyer.
Raine Group has begun approaching potential investors, exploring options such as forming a purchasing group that would combine a controlling owner with high-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.
The bank is reportedly looking for an investor of Len Blavatnik's caliber, though Blavatnik has stated he has not been contacted. The entrepreneurs being approached are associated with the "Greentech" forum, a group of high-tech professionals and Maccabi Haifa fans. Tom Livne, co-founder of the transcription company Verbit, is leading this entrepreneurial initiative. Other potential investors mentioned include Ofer Ben-Nun, Tal Slobodkin, Shimon Elkabets, Ziv Paz, Tamir Bar Ilan, Ami Sirkis, and Guy Nitzan. Hotelier David Fattal and shipping businessman Udi Angel may also join the group.
Raine Group, known for its expertise in technology, media, and communications, has previously advised on sports acquisitions and capital raising. Israeli businessman David Chizik is said to be a key figure in facilitating the deal 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 heirs' 50% stake for an $80 million valuation, with an option to later purchase Shahar's shares, but the deal fell through due to disagreements.
Shahar, 84, is reportedly determined to complete the sale with his sons. However, after 35 years of ownership, he views Maccabi Haifa as a life's work and will prioritize a buyer who can ensure the club's continuity.
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