Maccabi Haifa Seeks New Ownership with Raine Group Facilitating Sale
Translated & summarized from Mako by baba
Maccabi Haifa has hired Raine Group, a major global investment bank, to manage the sale of the football club, as confirmed by President Yakov Shahar. The bank, which has experience with deals involving Chelsea and Manchester United, will seek a new owner to lead the club forward. The team is reportedly looking for a controlling owner with a 51% stake, and the sale process is expected to take several months.
The story in 5 lines · by baba
- Maccabi Haifa has hired Raine Group to manage the sale of the football club.
- Club President Yakov Shahar confirmed the hiring, seeking a serious investor for the future.
- Raine Group has previously advised on the sales of Chelsea and Manchester United.
- The club is reportedly seeking a controlling owner with a 51% stake.
- The sale process is expected to take several months after initial negotiations.
Maccabi Haifa is on the verge of a new era as club president Yakov Shahar has confirmed the hiring of Raine Group, a prominent global investment bank, to manage the sale of the football club. Shahar stated that he has received interest from various parties and has engaged Raine Group, a leader in the field, to find a suitable entity to lead the club forward. He emphasized his desire for a serious investor who can continue his life's work and achieve further success for the team.
Raine Group has a significant track record in high-profile football transactions, having advised on the sale of Chelsea to Todd Boehly, the sale of a quarter stake in Manchester United to Jim Ratcliffe, and is expected to mediate the sale of Crystal Palace. The bank's commission structure, as seen in the Manchester United deal where they earned 1.9% of a $1.6 billion transaction, suggests Raine Group could receive approximately $2 million if Maccabi Haifa is sold for $100 million, potentially more depending on the deal's specifics.
The bank's role involves matchmaking potential buyers with the club, managing negotiations, and handling documentation, similar to a real estate broker. This approach differs from past negotiations, such as those with Adam Fried's group, where Maccabi Haifa was more directly involved. Raine Group's involvement is expected to streamline the process, allowing the club to evaluate multiple offers under one umbrella, a lesson learned from previous failed negotiations.
Economist reports indicate that Maccabi Haifa is seeking a controlling owner with a 51% stake, with a group of businessmen holding the remaining 49%. This suggests the sale process is beyond an initial exploratory phase. The timeline for the sale remains uncertain and depends on the buyers and Yakov Shahar. Following initial negotiations, a due diligence period of several months is anticipated, similar to the Hapoel Tel Aviv sale which took about four months from initial agreement to final transfer.
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