Billionaire Edmond Safra Transforms Hapoel Tel Aviv with Massive Investment
Exactly two years ago, following Hapoel Tel Aviv's relegation to the National League, Jewish-American billionaire Edmond Safra acquired the club. Since then, he has invested tens of millions of shekels, restoring the team to prominence in Israeli football. Safra's extended family, primarily involved in banking, holds a combined net worth of approximately $27 billion according to Forbes, excluding his wife Mariel Nahmad-Safra's fortune. Together, their families' wealth totals around $34 billion, dwarfing the next wealthiest Israeli football owner, Mitch Goldhar, who is worth $2.9 billion.
This summer, Safra set a club record by allocating 34 million shekels for player salaries, a 15% increase from last season's 29 million shekels and more than triple the budget under previous ownership. The overall club budget, including youth, women's teams, and infrastructure, stands at about 70 million shekels. Over two years, Safra has personally spent roughly 80 million shekels, significantly surpassing previous owners' investments. He has also made major player acquisitions, including three of the club's four most expensive signings ever, focusing on young talent with resale potential.
Despite his aristocratic background, Safra maintains a low public profile, avoiding press conferences and interviews, which has led to a quieter club atmosphere. However, this approach contrasts with the more turbulent management style seen in the club's basketball division. Under Safra's ownership, Hapoel Tel Aviv has grown in popularity, selling a record 17,000 season tickets this summer and attracting thousands of fans to European matches. The club also opened a new merchandise store in Bloomfield Stadium, collaborating with global brand Nike.
Safra appointed Guy Primor, formerly of Hapoel Be'er Sheva, as CEO with full managerial autonomy, as Safra operates from New York. The club has developed a professional structure with a head coach, multiple assistants, analysts, and a scouting system. The team has retained most of its foreign players and achieved notable victories in European competition. Safra's strategy emphasizes gradual, cautious improvement rather than reckless spending.
Significant investments have also been made in the women's and youth departments, with the women's team now holding the largest budget in Israeli women's football. New departments for fan relations, innovation, commerce, and media have been established to enhance transparency and engagement with supporters. Safra's management has also changed contract policies to prevent young talents from easily transferring to rival clubs, aiming to strengthen the club's competitive position long-term.
