Shake-up at Maccabi Tel Aviv: Recanati family sells stake to US businessman
The Recanati family, which holds the majority of the club's shares, has initiated proceedings to sell half of its stake. The new investor is set to be Jewish-American businessman Jason Levien, a former CEO of an NBA team.
Dramatic shifts are underway in the ownership structure of the Maccabi Tel Aviv basketball club: the Recanati family, which currently holds 58% of the club's shares, has initiated proceedings to sell half of its stake (29%). The deal is expected to get underway in the coming days and will bring significant changes to the management table.
As reported today (Sunday) on ynet, the investor joining the club is 52-year-old Jewish-American businessman Jason Levien. Levien, who began his career in the sports world as a player agent, previously served as CEO of the NBA team Memphis Grizzlies and currently possesses extensive management and investment experience in the basketball and soccer industries in the United States.
This involves a stake that previously belonged to the Federman family (via the company "Pedanco Sport") and passed to the Recanati family after they blocked the entry of the founder of the fintech company "Rapyd", Arik Shtilman.
According to the club's bylaws, the other existing shareholders — Shimon Mizrahi (14.5%), Richard Deitch (17.5%), and Ben Ashkenazi (10%) — are allotted 30 days to decide if they wish to exercise their right of first refusal and purchase the shares themselves. Should they not object, Levien will complete his official entry into the yellow ownership team.
