Racnati Family Completes Maccabi Tel Aviv Purchase as Federman Family Bids Farewell

The Racnati family has finalized the acquisition of a 58% stake in Maccabi Tel Aviv, marking the end of a 90-year legacy held by the Federman family. Danny Federman, son of the late David Federman, announced the completion of the sale through Fedanco Sport and reflected on his family's deep connection to the club, which began with his grandfather, Yitzhak Federman, a captain of Maccabi Tel Aviv in the 1930s. The Federman legacy continued with David Federman, a lifelong Maccabi supporter and sponsor during the 1980s and 1990s, who helped transform the club into a privately owned sports entity in the early 2000s, reshaping Israeli sports.

Danny Federman, who grew up in Maccabi's youth system and served as the club's CEO from 2011 to 2015 during their memorable 2014 EuroLeague victory, emphasized the family's commitment to the club's success and innovation in European basketball. Recently, the Federman family proposed a strategic investment plan involving Israeli and American investors to advance Maccabi Tel Aviv to new heights. However, the Racnati family exercised their right of first refusal to purchase Fedanco Sport's shares, thereby halting the Federmans' investment plan.

Despite the sale, Danny Federman expressed heartfelt wishes for the Racnati family's success and stressed that while ownership of shares can change, the legacy and spirit of Maccabi Tel Aviv remain with the Federman family forever. He concluded by affirming that the Federmans will always be devoted Maccabi supporters at heart.

Summary: The Racnati family has acquired majority ownership of Maccabi Tel Aviv, ending the Federman family's 90-year involvement. Danny Federman reflected on his family's historic ties and expressed hope for the club's future under new ownership, affirming the enduring legacy of the Federman family within the club.