Rapid CEO Upgrades Offer to Buy Majority Stake in Maccabi Tel Aviv from Recanati Family

Eric Shtilman, CEO of Rapid and sponsor of Maccabi Tel Aviv, has increased his bid to acquire 58% of the club's shares owned by the Recanati family. The updated offer stands at $120 million, up from his previous $100 million proposal made about ten days ago. This new amount also surpasses the $50 million paid by the Recanati family to acquire a 29% stake from the Federman family through Pandeco Sport.

Last month, the Recanati family became the majority shareholders of Maccabi Tel Aviv by purchasing the Federman family's shares. Under the club's ownership structure, each owner has the right of first refusal to buy shares from other owners, which was relevant following the official announcement of Shtilman joining the ownership group. Additionally, Jason Levine has expressed interest in acquiring shares from the Recanati family and is currently engaged in negotiations.

This development marks a significant shift in the ownership dynamics of the Israeli Premier League champions, with Shtilman aiming to consolidate control through his increased financial commitment. The negotiations and potential changes in ownership are closely watched by stakeholders and fans alike.