Maccabi Tel Aviv Owners Head to Arbitration Over Share Sales
Translated & summarized from Sport5 by baba
Owners of the Maccabi Tel Aviv basketball club are heading to arbitration after mediation efforts failed to resolve disagreements over share sales. Attorney Israel Leshem will arbitrate the dispute, which includes the 9% stake sold by Ben Ashkenazi to Jason Levin for $18 million. The shares are currently held in trust by attorney Alon Raskin.
The story in 5 lines · by baba
- Maccabi Tel Aviv owners will go to arbitration due to unresolved disagreements over share sales.
- Mediation attempts between owners Richard Dietz, Shimon Mizrahi, and the Recanati family failed.
- Arbitrator Israel Leshem will decide on share sales and the 9% stake from Ben Ashkenazi.
- Ben Ashkenazi sold his 9% stake to Jason Levin for $18 million.
- The 9% shares are currently held in trust by attorney Alon Raskin.
Despite expressing a desire for mediation two weeks ago, owners of the Maccabi Tel Aviv basketball club, Richard Dietz, Shimon Mizrahi, and the Recanati family, will proceed to arbitration due to unresolved disagreements. The arbitration, to be led by attorney Israel Leshem, will address share sales that occurred over the summer.
Key to the proceedings will be the ownership of 9% of the club's shares, which were sold by Ben Ashkenazi to Jason Levin. These shares are currently held in trust by attorney Alon Raskin and are considered dormant. Both Dietz and Mizrahi, along with the Recanati family, reportedly paid Ashkenazi a total of $18 million for his 9% stake, with each party contributing their share of the cost.
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