Racnati Family Acquires Federman Shares to Gain Control of Maccabi Tel Aviv Basketball Club
Translated & summarized from Now 14 by baba
The Racnati family bought the Federman family's 29% stake in Maccabi Tel Aviv basketball for $50 million, raising their ownership to 58% and gaining control of the club. Businessman Arik Shtilman is now excluded from ownership but remains a supporter.
The story in 6 lines · by baba
- Racnati family buys Federman family's 29% stake in Maccabi Tel Aviv for $50 million.
- Racnati ownership rises to 58%, gaining control of the basketball club.
- Arik Shtilman is excluded from the new ownership structure.
- Deal is one of the largest in Israeli sports history.
- Shtilman expressed continued support for Maccabi Tel Aviv on social media.
- Transaction announced on Tuesday and follows shareholder agreement.
The Racnati 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 for $50 million. This acquisition increases the Racnati family's ownership to 58%, making them the controlling shareholders of the club. The transaction was announced on Tuesday and is considered one of the most significant deals in Israeli sports.
As a result of this deal, businessman Arik Shtilman is excluded from the new ownership structure. Shtilman confirmed the details on his social media account, expressing his continued support for Maccabi Tel Aviv despite no longer being part of the ownership group. The Racnati family's move consolidates their control over the club, signaling a new chapter in its management and operations.
This ownership change follows an agreement among shareholders and reflects a strategic shift in the club's governance. The deal underscores the Racnati family's commitment to Maccabi Tel Aviv and their intention to lead the club forward.
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