Maccabi Haifa Owner Taps Investment Bank for Club Sale
Translated & summarized from Ynet by baba
Maccabi Haifa owner Yaakov Shahar has hired investment bank Rain Group to manage the sale of the club, aiming for a streamlined process. The bank, known for major international sports deals, agreed to the project due to Jewish partners and prior Israeli market experience. Shahar seeks a buyer committed to the club's future success and legacy, though current global sentiment may complicate the search. Separately, Maccabi Haifa signed captain Eli Dasa, and Hapoel Jerusalem extended Luca Gadrani's contract.
The story in 5 lines · by baba
- Maccabi Haifa owner Yaakov Shahar hired Rain Group to manage the club's sale.
- Rain Group has experience with major deals like Chelsea and Manchester United.
- The club's valuation is estimated between $100-120 million.
- Shahar seeks a buyer to continue his legacy and invest in the club's future.
- Eli Dasa signed with Maccabi Haifa, and Luca Gadrani extended his contract with Hapoel Jerusalem.
Following the collapse of a sale to businessman Adam Fried last summer, Maccabi Haifa owner Yaakov Shahar has adopted a new strategy to sell the club. Shahar is leveraging his international business connections and the expertise of investment bank Rain Group, a major player in global sports and technology deals, to facilitate the sale. Rain Group has previously handled significant transactions, including the sale of Chelsea FC, partial acquisition of Manchester United, and advising Manchester City.
The investment bank, which typically avoids smaller European clubs, agreed to take on the Maccabi Haifa project due to several factors. Key among these are the Jewish heritage of some of its partners, including founder Joe Ravitz, and Rain Group's prior experience with major deals in Israel, such as the sale of Playtika. Despite the club's valuation of $100-120 million, which is considerably smaller than deals like Playtika's $8.5 billion valuation, the bank sees potential.
Maccabi Haifa will provide the bank with full financial transparency, including debts, assets, and income statements, to prepare detailed reports. Rain Group's role will be to find a buyer for 100% of the club's ownership and conduct due diligence on serious potential purchasers. The aim is to streamline the sale process, avoiding the lengthy delays seen in other club sales.
Shahar has stated his desire to find a buyer who will continue his legacy and invest significantly to elevate the club to new heights, including regular European competition. However, the current anti-Israel sentiment may make finding a buyer challenging, with a focus on Jewish billionaires or US investment funds. No immediate buyer is currently in sight, and the bank's involvement is seen as establishing a prestigious platform for a thorough process.
In other club news, Maccabi Haifa signed Israeli national team captain Eli Dasa to a two-year deal worth 330,000 euros per season, with an option for a third year. Meanwhile, Hapoel Jerusalem defender Luca Gadrani has agreed to a new three-year contract worth approximately 5.5 million shekels, making him one of the team's highest earners.
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