Oudi Rekhnati Family Takes Control of Maccabi Tel Aviv Basketball Club

The Rekhnati family has unexpectedly acquired a controlling stake in Maccabi Tel Aviv basketball club, Israel's reigning champion and State Cup holder. This week, they purchased the 29% share held by the Federman family for $50 million, increasing their ownership to 58%. The deal values the club at approximately $172 million. The Rekhnatis have announced plans to significantly boost the club's budget in the coming years after a period of underperformance in the EuroLeague and struggles to reclaim past dominance. Fans remain skeptical, with the upcoming season set to test the new ownership.

The transaction followed the Rekhnatis exercising their first refusal rights after the Federmans sold half their shares to new investors, led by Rapid Technologies CEO and founder Eric Stillman, who also sponsored the team. Stillman, who briefly served on the board representing the Federman group and orchestrated a high-profile signing of city rival star Yam Madar, will step down within two months and return to being a fan. He publicly wished the Rekhnati family success on social media.

David Federman was a long-time influential figure in Maccabi Tel Aviv alongside legendary chairman Shimon Mizrahi, with his son Danny Federman taking a leading role in recent years. The Rekhnatis, led by Oudi Rekhnati and his son Shay, are now stepping into their place. Shay Rekhnati, the club's vice chairman, reportedly pushed for the acquisition and personally informed Danny Federman of the purchase. The Rekhnatis have committed to investing tens of millions of dollars in player budgets going forward.

Oudi Rekhnati, 77, is a veteran businessman known for his pivotal role in selling the family’s controlling stake in IDB Holding to Nochi Dankner in 2003, a landmark deal in Israel’s corporate history. Coming from a banking dynasty, Rekhnati has held senior roles at Discount Bank and IDB, founded his own investment firm, and led significant transactions including selling the family bank in Switzerland. He has also been involved in philanthropy, notably with Reichman University, and has longstanding ties to basketball, having previously held a 16% stake in Maccabi Tel Aviv’s management company and served as chairman of Maccabi World Union.

The Rekhnati family’s return to Maccabi Tel Aviv marks a new chapter for the club, with ambitions to restore its former glory through substantial financial backing and strategic leadership.