Recanati Family Acquires Federman Shares in Maccabi Tel Aviv for $50 Million
Translated & summarized from N12 by baba
The Recanati family has bought the Federman family's 29% stake in Maccabi Tel Aviv basketball club for $50 million, raising their ownership to 58% and planning major investments in players.
The story in 6 lines · by baba
- Recanati family acquires Federman family's 29% stake in Maccabi Tel Aviv for $50 million.
- This purchase raises Recanati family's ownership in the club to 58%.
- The acquisition was made by exercising a right of first refusal under a shareholders' agreement.
- Recanati family plans to invest tens of millions of dollars in the club's player budget.
- Eric Stillman previously bought half of Padenco Sport's 29% stake in the club.
- Further details about the deal are expected to be announced soon.
A significant ownership change has taken place at Maccabi Tel Aviv basketball club. The Recanati family has purchased the 29% stake previously held by the Federman family through the company Padenco Sport, effectively removing the Federmans from the club's ownership. This acquisition increases the Recanati family's share to 58% of the club.
The transaction was made under a shareholders' agreement, with the Recanati family exercising their right of first refusal to buy the shares from Padenco. The purchase price for the Federman shares was approximately $50 million.
Following the acquisition, the Recanati family announced their intention to invest tens of millions of dollars in the club's player budget over the coming years, signaling a commitment to strengthening the team. This development follows earlier changes in ownership, including Eric Stillman's purchase of half of Padenco Sport's holdings, which controlled 29% of the club.
Further details about the deal and its implications for Maccabi Tel Aviv's future are expected to be released soon.
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Centre 3Right 2Other 2
