Recanati Family Gains Majority Stake in Maccabi Tel Aviv, Sea Madr Deal Unaffected
Translated & summarized from Walla by baba
The Recanati family has acquired a majority stake in Maccabi Tel Aviv by buying the Federman family's shares for $50 million, changing the club's ownership structure. Despite this shift, the signing of point guard Sea Madr remains unaffected. Madr recently completed medical tests and signed a multi-year contract with the club.
The story in 6 lines · by baba
- Recanati family buys Federman shares for $50 million, gaining majority control of Maccabi Tel Aviv.
- Eric Stillman and Federman family exit club ownership following the deal.
- Club management assures fans that existing deals, including Sea Madr's signing, remain unchanged.
- Sea Madr completed medical tests and will be officially presented soon.
- Madr signed a three-year contract with an option for two more years, earning about $2 million annually.
- Madr averaged 13.2 points and 4 assists in the Israeli league, with improved playoff stats.
On Tuesday evening, the Recanati family exercised their right of first refusal to purchase the Federman family's shares in Maccabi Tel Aviv for $50 million. This acquisition marks the first time the Recanati family holds a majority stake in the club, significantly altering the power dynamics and likely leading to further decisions over the summer. Consequently, the Federman family and Eric Stillman, who was expected to join as an owner and continue as the main sponsor with Rapid, are now out of the ownership picture.
A senior official from Maccabi Tel Aviv's management reassured fans that all deals finalized so far, including the anticipated signing of Sea Madr, will remain unaffected by this ownership change. Sea Madr, a 25-year-old point guard, completed his medical tests with Maccabi Tel Aviv on Sunday before flying to Croatia to play with the Israeli national team. He is expected to be officially presented by the club in the coming days.
Madr, who activated his exit option from Hapoel Tel Aviv, signed a three-year contract with Maccabi Tel Aviv, including an option for two additional years, with an annual salary of about $2 million. During the regular season in the Israeli Premier League, Madr averaged 13.2 points, 3 rebounds, and 4 assists per game. He elevated his performance in the playoffs, averaging 19.6 points (with a 45.8% three-point shooting), 3.8 rebounds, and 5.6 assists. However, in the EuroLeague, he played only 16 games with an average of 9.4 minutes per game, contributing 3.1 points, 1.1 rebounds, and 1.4 assists per game.
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