Maccabi Tel Aviv Ownership Battle and EuroLeague Struggles Shake Club
Maccabi Tel Aviv's ownership battle heads to arbitration as sponsor Arik Stiltman blasts the team's dismal EuroLeague start and management delays, contrasting with massive club budgets.
The arbitration proceedings at Maccabi Tel Aviv basketball club have highlighted a fierce control battle among shareholders, triggered by a deal to sell roughly 29% of the club's shares from the Recanati family to American businessman Jason Levine. Shareholder Richard Deitch petitioned the District Court, arguing that the transaction violates his veto and right-of-first-refusal privileges while bypassing club statutes. Conversely, Shimon Mizrahi and the Recanati family maintain that all procedures were conducted lawfully. Consequently, the court ordered a freeze on the transaction and referred the dispute to urgent arbitration alongside mediation efforts, aiming to resolve the club's ownership and corporate governance structure.
Arik Stiltman, CEO of Rapid and the primary sponsor of Maccabi Tel Aviv basketball club, spoke openly in an interview with ONE about the team's EuroLeague season opener, the ongoing arbitration involving Udi and Shi Recanati and Shimon Mizrahi, and whether he plans to attend European fixtures. "It's terrible, disappointing. We had a relatively favorable draw, but losses to French side ASVEL and Turkish side Beşiktaş completely reshuffled the deck," Stiltman stated.
Upcoming Clash and Roster Shortcomings
Stiltman addressed Maccabi's upcoming matchup against Valencia and the team's pressing need to bolster its roster with additional talent. "I very much hope we can bounce back on Thursday against Valencia, although it seems this season won't yield major achievements either. It's evident that Maccabi lacks a serious scorer who can create something out of nothing, in the mold of a Antonio Blakeney—someone you give the ball to and he scores. It also appears we are missing a killer guard and a more formidable big man, but that is our current reality."
Commenting on the arbitration turmoil rattling the club and inducing uncertainty, Stiltman asserted: "The arbitrator will decide who truly owns Maccabi Tel Aviv. The fact is that the judge gave them a strict rebuke last week regarding the Levine matter. They are trying to force this situation where he becomes a shareholder, but it will not succeed. Every arbitrator will rule against this scheme and transfer control to Deitch."
Management Critique and Personal Frustration
Furthermore, Stiltman criticized the Recanati family's lack of professional management and delayed decision-making. "There were opportunities to sign players, but there was foot-dragging from the Recanatis. They didn't want to sign an ill-fitting player just for the sake of it, and I agree with that principle, but had decisions been made when I requested them, those missing players would at least be here today."
Finally, he shared his personal dismay following the club's dismal start to the campaign: "It's frustrating, makes you want to break something at home. Even though the officiating was scandalous, it's still deeply disappointing. You don't want to fall into a hole from which you cannot return, and I sincerely hope we secure a victory on Thursday against Valencia on a notoriously difficult court."
Budgetary figures underscore the high stakes: Maccabi Tel Aviv's budget for the season reaches approximately 153 million shekels—an all-time high—following the blockbuster summer acquisition of Yam Madar on a net salary of roughly $2 million per season. Meanwhile, Hapoel Tel Aviv and Ofer Yannai boast a staggering budget of around 200 million shekels, headlined by Serbian star Vasilije Micić, the highest-paid player in Europe earning roughly $6 million net per season. The ongoing ownership battle remains critical and dramatic for the club's future.
