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Oudi Rekhnati Family Takes Control of Maccabi Tel Aviv Basketball Club
The Rekhnati family has taken majority control of Maccabi Tel Aviv basketball club by buying the Federman family's shares for $50 million, raising their stake to 58%. They plan to significantly increase the club's budget to improve performance after recent struggles.
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What happened
- 01The Rekhnati family acquires 58% control of Maccabi Tel Aviv basketball club for $50 million.
- 02The deal values the club at $172 million and aims to boost its budget significantly.
- 03Eric Stillman, recent board member and sponsor, will leave his role within two months.
- 04David and Danny Federman previously led the club before selling shares to Rekhnatis.
- 05Oudi Rekhnati is a veteran businessman known for selling IDB Holding in 2003.
- 06The Rekhnatis have longstanding ties to basketball and plan major investments in players.
Eric Stillman, a recent board member and sponsor, will step down. Oudi Rekhnati, a veteran businessman known for selling IDB Holding, leads the family’s return to the club.
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