Recanati Family Takes Majority Ownership of Maccabi Tel Aviv Basketball Club

Maccabi Tel Aviv, Israel's basketball champion, announced a significant ownership change following the Recanati family's acquisition of the Federman family's shares for 50 million shekels. This development comes about a month and a half after the Federman family, who held the club's management shares, revealed the entry of investor Arik Stillman, who was expected to purchase a stake in their shares. Upon this announcement, the other shareholders in Maccabi Tel Aviv were granted the right to buy the Federman family's entire shareholding. On Tuesday evening, the Federman family exercised this right, purchasing the Recanati family's shares, effectively transferring majority ownership to the Recanati family.

As a result, the Recanati family now holds 58% of Maccabi Tel Aviv's shares, marking the first time they have held a controlling stake in the club. This transaction is considered one of the most significant in Israeli sports, signaling a new era and a shift in the power dynamics within the basketball club. According to the shareholders' agreement, the Recanati family exercised their preemptive right to buy the Federman family's 29% stake from Padenco Sport, consolidating their majority position in the team.