Maccabi Tel Aviv Faces Ownership Turmoil Amid Sale to American Investor Jason Levin

Maccabi Tel Aviv basketball club is embroiled in a major internal conflict involving ownership battles, legal threats, and staff dismissals linked to the Recanati and Federman families. The turmoil surfaced after the Recanati family announced plans to sell half of their 58% stake to American businessman Jason Levin, former CEO of the NBA's Memphis Grizzlies. Other shareholders, including Shimon Mizrahi (14.5%), Richard Deitsch (17.5%), and Ben Ashkenazi (10%), have 30 days to exercise their right of first refusal to buy the 29% stake offered for sale and block Levin's entry.

The dispute escalated after Eric Stillman, the club's main sponsor who had intended to buy part of the Federman family's shares, accused the Recanatis of concealing a prior agreement with Levin. Stillman claims the deal with Levin was arranged before the Recanatis exercised their right to buy Federman's shares, violating the shareholders' agreement and potentially invalidating the Recanati-Federman transaction. He plans to seek court intervention to annul the sale and demand full disclosure of the deal's timeline. The Recanati camp denies legal merit but acknowledges a court process could be lengthy.

Meanwhile, the Recanati family has begun dismissing employees associated with the Federman family, including communications VP Roy Gladstone and merchandise manager Eyal Avdi, fueling fan concerns. The complexity of the right of first refusal stems from differences in shareholding structures between the Federman and Recanati stakes. If the other shareholders do not act, Levin, 52, will become a new owner. Levin is known for sports management and investments, with plans to split his time between the US and Israel and to inject $70 million into the club alongside his $50 million purchase.

Levin aims to restore Maccabi Tel Aviv to its former glory, including building a new 20,000-seat arena. Shimon Mizrahi has expressed concerns about the longevity of new investors, but Levin has committed to a long-term involvement. The ownership struggle highlights deep divisions within the club as it prepares for the upcoming season amid ongoing uncertainty.