Maccabi Tel Aviv Owners Opt for Arbitration Amid Ownership Dispute
Translated & summarized from Mako by baba
Maccabi Tel Aviv basketball club's owners will proceed to sports arbitration after mediation efforts failed to resolve ownership disputes. Attorney Israel Leshem will arbitrate the case, which includes the sale of 9% of shares from Ben Ashkenazi to Jason Levin. The parties previously paid Ashkenazi $18 million for his stake.
The story in 6 lines · by baba
- Maccabi Tel Aviv owners will go to arbitration after mediation attempts failed.
- Attorney Israel Leshem will oversee the arbitration process.
- The dispute centers on share sales that occurred over the summer.
- A key issue is 9% of shares sold by Ben Ashkenazi to Jason Levin.
- The shares are currently held in escrow by attorney Alon Raskin.
- The parties previously paid Ben Ashkenazi $18 million for his stake.
Attempts to mediate a resolution have failed, leading the owners of Maccabi Tel Aviv basketball club to proceed with sports arbitration to settle complex summer disputes. Despite expressing a desire for mediation just two weeks prior, Richard Daetz, Shimon Mizrahi, and the Rekanati family were unable to bridge significant disagreements.
The arbitration, to be overseen by attorney Israel Leshem, will address the sale of shares that occurred over the summer. A key issue involves the 9% of shares sold by Ben Ashkenazi to Jason Levin. These shares are currently held in escrow by attorney Alon Raskin and are considered dormant.
Both parties had previously paid Ashkenazi a total of $18 million for his 9% stake, with each contributing their respective share of the cost.
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