Recanati Family Buys Federman Shares to Control 58% of Maccabi Tel Aviv Basketball Club

The Recanati family has acquired the Federman family's 29% stake in Maccabi Tel Aviv basketball club for $50 million, increasing their ownership to 58%. This transaction was executed through the Recanati family's exercise of a right of first refusal to purchase all Federman shares held by the company Padenco. The deal marks a significant shift in the club's ownership structure following the departures of Eric Stillman and the Federman family.

Following the acquisition, the ownership breakdown of Maccabi Tel Aviv is as follows: the Recanati family holds 58%, Richard Deitsch owns 17.5%, Shimon Mizrahi has 14.5%, and Ben Ashkenazi controls 10%. Previously, the Federman family and Eric Stillman each held 14.5%, but both have now exited the club. The Recanati family has announced plans to invest tens of millions of dollars into the team's player budget over the coming years.

This transaction is considered one of the most significant in Israeli sports, signaling a new era for Maccabi Tel Aviv with increased financial backing and consolidated ownership under the Recanati family.