Raknati Family Gains Control of Maccabi Tel Aviv, Ousting Federman and New Owner

Maccabi Tel Aviv experienced a major upheaval on Tuesday as the Raknati family announced their purchase of the entire stake held by the Federman family for $50 million. This acquisition gives the Raknatis a controlling 58 percent ownership of the club, effectively pushing out both the Federmans and the recently introduced owner, Erik Shtilman. Just six weeks earlier, the Federman family had sold half of their 29 percent stake in "Padenco Sport", which holds shares in the club, to tech entrepreneur Shtilman, granting him 14.5 percent ownership. However, under the shareholders' agreement, the other partners had a right of first refusal to buy the Federmans' full 29 percent within a month, a deadline that expired on Tuesday. The Raknatis exercised this right at the last moment, ending the Federmans' involvement in the club.

Following the deal, ownership is divided as follows: the Raknati family holds 58 percent, Richard Deitsch 17.5 percent, Shimon Mizrahi 14.5 percent, and Ben Ashkenazi 10 percent. Club insiders expressed shock at the move, describing it as "an extreme step" taken without prior warning. The Raknatis reportedly opposed the initial Federman-Shtilman deal and, after recent management conflicts including issues around player Yam Madar's signing, concluded that cooperation was untenable, prompting their decisive action.

Tensions between the Raknati and Federman families had existed even before Shtilman’s entry, exacerbated by the death of David Federman and Danny Federman’s subsequent decision to sell his shares and bring new investors into the club. The Padenco Sport deal was part of a broader plan involving American Jewish billionaires Zygi and Mark Wilf, owners of the NFL’s Minnesota Vikings, who were willing to invest significantly but only if they received a larger share and all controlling owners contributed additional capital. The proposed investment was around $30 million, contingent on shareholder approval to avoid dilution.

The Raknati family's announcement caught the Federmans and Shtilman completely off guard. Shtilman had previously expressed confidence that the right of first refusal would not be exercised, citing conversations with other owners, except Raknati, who was abroad. Club sources believe this ownership restructuring is not final, anticipating further changes including new investors chosen by the Raknatis, contrasting with the prior Federman-Shtilman arrangement. The Raknatis are expected to seek partners to share the financial burden of managing the club moving forward.