Maccabi Haifa Owner Hires Firm to Manage Club Sale

Maccabi Haifa's 85-year-old president, Yaakov Shahar, has officially engaged RAINE GROUP, a major firm specializing in high-value transactions, including in sports, to manage the sale of the football club. Shahar intends to sell 100% of the club's shares for an estimated $100 million, a shift from previous discussions about a partnership deal. This development follows two difficult seasons for the club, which failed to qualify for European competitions, an unusual occurrence for Maccabi Haifa. Despite these professional setbacks, Shahar increased his investment in the club this past summer, driven by his love for it and a desire to conclude his ownership with titles. He also aims to leave the club in the best possible condition for new owners, maintaining its debt-free status and enhancing its professional standing. Shahar plans to further invest in January to strengthen the team, believing that a strong performance and qualification for a prestigious European tournament will increase the club's attractiveness to potential buyers. The club's consistent draw of 30,000 fans at Sammy Ofer Stadium is also seen as a significant asset. While several parties have expressed interest in acquiring Maccabi Haifa, a deal that could be the most expensive in Israeli sports history, the process is expected to take time. RAINE GROUP will conduct due diligence on the club and potential buyers, who could be foreign or Israeli businessmen, though an Israeli buyer is considered more likely. Shahar wishes to personally vet any potential buyer to ensure the club's future. The decision to hire RAINE GROUP, which previously advised on the sale of Chelsea, stems from the complexity and high value of the transaction. Although no definitive timeline has been set, it is anticipated that the sale process will conclude within a year, potentially ushering in a new era for Maccabi Haifa.