Maccabi Haifa Owner Hires Firm to Manage Club Sale
Translated & summarized from Sport5 by baba
Maccabi Haifa owner Yaakov Shahar has hired RAINE GROUP to manage the sale of the club for an estimated $100 million. The decision follows two difficult seasons, but Shahar aims to leave the club in strong condition for new owners. Several parties have expressed interest, and the sale process is expected to conclude within a year.
The story in 6 lines · by baba
- Maccabi Haifa owner Yaakov Shahar hired RAINE GROUP to manage the club's sale for approximately $100 million.
- Shahar plans to sell 100% of the club's shares, a change from previous partnership discussions.
- The club's recent failure to qualify for European competitions has been a setback.
- Shahar intends to invest more in the team in January to strengthen it for a potential sale.
- Several interested parties have emerged, and the sale is expected to be the most expensive in Israeli sports history.
- The entire sale process is anticipated to conclude within a year or less.
Maccabi Haifa owner and president Yaakov Shahar has officially announced the hiring of RAINE GROUP, a major firm specializing in high-value deals, including in sports, to manage the sale of the football club. The 85-year-old president intends to sell 100% of the club's shares for an estimated $100 million, a shift from previous discussions about a partnership.
Shahar's decision to sell comes after two difficult seasons for the club, which failed to qualify for European competitions this year, an unusual occurrence for Maccabi Haifa. Despite these professional setbacks, Shahar increased his investment in the club over the past two years, driven by his love for it and a desire to conclude his tenure with titles. He also aims to leave the club in the best possible condition for its new owners, ensuring it is attractive to potential buyers.
To enhance the club's appeal, Shahar has invested more and increased the budget, with a goal of qualifying for a major European competition. He also plans to invest additional funds in January to strengthen the team. The club's consistent draw of 30,000 fans at Sammy Ofer Stadium is seen as a significant asset.
While several parties have expressed interest in acquiring Maccabi Haifa, a process expected to be the most expensive in Israeli sports history, Shahar acknowledges it will take time. The sale process will involve due diligence on the club, which is debt-free, and financial background checks on potential buyers by RAINE GROUP. Although open to foreign investors, Shahar, who views the club as his life's work, prefers an Israeli buyer whose intentions he can understand and whose commitment to the club's future he can secure.
RAINE GROUP was chosen for its expertise in complex, high-value sports transactions, having previously managed the acquisition of Chelsea by Ted Boehly. The firm will handle negotiations and due diligence to secure the best possible terms. While no definitive timeline has been set, it is anticipated that the sale process will conclude within a year, potentially sooner, ushering in a new era for Maccabi Haifa.
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