Recanati family sells half of its Maccabi Tel Aviv shares to Jason Levien
As revealed on ynet, the Jewish-American businessman purchased half of Udi and Shie Recanati's holdings for $50 million, and he now holds 29% of the club's shares. The remaining shareholders have 30 days to exercise their right of first refusal and effectively cancel the deal.
Another change in the management of Maccabi Tel Aviv: the Recanati family, which held 58% of the team, has sold half of its shares to Jewish-American businessman Jason Levien, as first reported on ynet. Levien, who previously served as CEO of the NBA's Memphis Grizzlies, now holds a 29% ownership stake in the club, with the deal valued at $50 million.
This stake was previously held by the Federman family through the company "Fedanco Sport" and passed to the Recanati family after they exercised their right of first refusal following the dilution of the Federmans' shares and the entry of Eric Shtilman, founder of the fintech company Rapyd, as an additional owner. The remaining shareholders are Shimon Mizrahi (14.5%), Richard Deitch (17.5%), and Ben Ashkenazi (10%). Now that the deal is official, the other owners have 30 days to decide whether to exercise their right of first refusal and purchase the 29% stake themselves. If any of them (Mizrahi, Deitch, or Ashkenazi) exercises this right, they will divide the 29% share among themselves. If no objection is raised, Levien will become a co-owner.
Who is Jason Levien?
The 52-year-old Levien is an American sports executive and investor specializing in soccer and basketball teams. He began his career as a player agent before holding several senior management roles. In 2008, Levien became assistant general manager and vice president of the NBA's Sacramento Kings, and in the summer of 2009, he selected Omri Casspi with the 23rd pick in the draft.
Levien also served as CEO of the Memphis Grizzlies, but in 2014, he was unexpectedly fired following a crisis in his relationship with club owner Robert Pera. Since 2012, Levien has served as co-chairman and CEO of D.C. United in the MLS, having led an investor group that acquired control of the club. Additionally, he serves as chairman of the Australian basketball team Brisbane Bullets. In 2016, he and his partner Steve Kaplan acquired control of the British soccer club Swansea City, where he served on the board of directors. Levien sold his stake in the club in 2024.
