Maccabi Tel Aviv Owners Opt for Arbitration Amid Share Dispute
Translated & summarized from N12 by baba
Owners of the Maccabi Tel Aviv basketball club will proceed to arbitration after mediation efforts failed due to significant disagreements. The arbitration, led by attorney Israel Leshem, will decide on the ownership of 9% of the club's shares, sold by Ben Ashkenazi to Jason Levin for $18 million. These shares are currently held in escrow by Alon Raskin.
The story in 5 lines · by baba
- Maccabi Tel Aviv owners will go to arbitration after mediation attempts failed.
- The arbitration will address the sale of 9% of the club's shares.
- Ben Ashkenazi sold the shares to Jason Levin for $18 million.
- The shares are currently held in escrow by attorney Alon Raskin.
- Attorney Israel Leshem will serve as the arbitrator.
Attempts to mediate a dispute between the owners of Maccabi Tel Aviv basketball club have failed, leading the parties to proceed with arbitration. Despite expressing a desire for mediation just two weeks prior, significant disagreements prevented a resolution outside of the legal process. The arbitration, to be overseen by attorney Israel Leshem, will address the sale of shares that occurred over the summer.
Central to the arbitration is the ownership of 9% of the club's shares, which were sold by Ben Ashkenazi to Jason Levin. These shares are currently held in escrow by attorney Alon Raskin and are considered dormant. Both parties reportedly paid Ashkenazi a total of $18 million for his stake, with each contributing their share of the cost.
The arbitration process is expected to determine the final outcome of these complex ownership issues that have complicated the team's summer dealings.
Mentioned
