Recanati Family Acquires Federman Shares in Maccabi Tel Aviv Basketball for $50 Million
The Recanati family has exercised their right of first refusal to purchase the entire 29% stake held by the Federman family in Maccabi Tel Aviv basketball club, according to a recent shareholders' agreement. This acquisition increases the Recanati family's ownership to 58% of the club's shares, marking one of the most significant transactions in Israeli sports history. The Recanati family stated their intention to invest tens of millions of dollars in the team's player budget over the coming years, signaling a strong commitment to the club's future development.
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