Federman Family Ends 90-Year Legacy as Maccabi Tel Aviv Ownership Transfers to Recanati Family

The Federman family officially parted ways with Maccabi Tel Aviv basketball club on Wednesday following the completion of a share purchase by the Recanati family. The Federmans issued a statement marking the end of their 90-year involvement with the club, describing it as more than ownership but a way of life that began with their grandfather, Yitzhak Federman, who captained Maccabi Tel Aviv in the 1930s before Israel's establishment. The legacy continued with their father, David Federman, a lifelong Maccabi supporter and sponsor in the 1980s and 1990s, who helped privatize the club in the early 2000s, reshaping Israeli sports.

David's son, Danny Federman, grew up in the club’s youth system and served as CEO from 2011 to 2015, including during the club’s unforgettable 2014 EuroLeague victory. Over the past two decades, David and Danny led significant initiatives in European basketball and the EuroLeague to maintain Maccabi Tel Aviv’s status as a leading and influential club representing Israeli sports internationally.

Recently, the Federman family, through their company Padenco Sport, proposed a strategic investment plan involving Israeli and American investors to advance the club. Eric Stillman, a passionate Maccabi supporter, joined this initiative. However, under the club's shareholder agreement, existing partners had a right of first refusal, which the Recanati family exercised, acquiring all shares held by Padenco Sport and blocking the Federmans’ investment plan.

The Federmans wished the new owners success and expressed hope that the Recanati family’s plans would preserve Maccabi’s values, legacy, and leadership in Israeli and European basketball. They emphasized that while ownership of shares can change, the heritage and spirit of Maccabi Tel Aviv remain forever part of the Federman family’s heart and soul.