Recanati Family Gains Majority Control of Maccabi Tel Aviv Basketball Club Amid Ownership Shakeup

The Recanati family has solidified its position as the dominant owner of Maccabi Tel Aviv basketball club by acquiring the 29 percent stake held by the Federman family for $50 million. This transaction, completed recently, increased the Recanatis’ ownership to 58 percent, making them the primary decision-makers in the club’s management. The deal ended the Federmans’ more than 40-year involvement with the club and sidelined potential new investors, including tech entrepreneur Eric Steilman and the Wilf brothers, who had planned a joint investment exceeding $30 million.

The acquisition was executed abruptly, with the Recanatis exercising their right of first refusal just before the deadline, reportedly without prior direct communication with the Federmans. This move has stirred speculation within the club that further ownership changes may follow, possibly involving new investors selected by the Recanatis themselves. The family’s patriarch, Udi Recanati, 77, and his son, Shay, 51, have longstanding ties to banking and business, with an estimated net worth of around $400 million. Shay currently serves as vice chairman and leads the RGE group, fully owned by the family since 2021.

Historically, the Recanati and Federman families maintained a cooperative relationship, with joint decision-making led by Udi Recanati and the late David Federman. However, tensions grew as the younger generations took over, culminating in a cooling of relations. The Federmans, particularly Danny Federman, had been prominent in managing the club’s EuroLeague affairs alongside chairman Shimon Mizrahi. The Recanatis are known for their low public profile but have previously intervened in club matters, including personnel changes.

Club insiders view the Recanatis’ consolidation of control as potentially positive, anticipating smoother decision-making without shareholder disputes. However, fan reactions have been mixed, with protests directed at both Danny Federman and Udi Recanati, including confrontations outside Recanati’s home. Udi Recanati defended recent budget increases despite the club’s challenges during wartime. The ownership saga is expected to continue, with the Recanatis facing the challenge of managing fan expectations and restoring the club’s competitive stature in Europe.