Richard Dietz Files Tel Aviv Court Claim Over Maccabi Ownership Dispute
Richard Dietz filed a Tel Aviv court claim over Maccabi Tel Aviv shares, challenging ownership transfer to Jason Levin and escalation of control dispute.
The battle for control of Maccabi Tel Aviv basketball club has entered a new phase. Investor Richard Dietz announced on Sunday that he has filed an arbitration claim with the Tel Aviv District Court against the sale of shares by the Recanati family to businessman Jason Levin.
Previously, Dietz exercised his right of first refusal regarding the deal that was supposed to transfer 29 percent of Maccabi to the American businessman, announcing that he was purchasing those shares along with an additional nine percent that owner Ben Ashkenazi asked to sell to Levin. Afterward, Shimon Mizrahi announced that he would also use his right of first refusal, and based on the original shareholder agreement, would purchase more shares from Dietz, thereby preventing him from becoming the club's primary shareholder.
Richard Dietz's Statement
«I took this step with a heavy heart after Udi Recanati sent a midnight notice canceling a planned shareholders' meeting and announcing the unilateral transfer of 7.5% of Maccabi shares to Jason Levin», — Dietz wrote in a published letter.
Dietz emphasized that this transfer violated the provisions of the shareholder agreement and was the latest in a series of numerous violations. He also expressed great respect for legendary club head Shimon Mizrahi while pointing out differences in their vision.
«Shimon is a legend, and I hold him in immense respect. Maccabi’s trophy room is full of cups won by the club during his many years of leadership», — added Dietz, criticizing behind-the-scenes maneuvers.
Appeal to Fans and Sporting Priorities
The investor addressed the club's fans, acknowledging that the internal conflict distracts attention from preparations for the new season. Dietz stressed that legal disputes should be resolved in courtrooms rather than the public sphere.
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Legal and arbitration disputes must rely on facts, documents, and the law.
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The true priority of the team remains on the basketball court.
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Fans must give their full support to the coaching staff and captain John DiBartolomeo in upcoming matches.
In conclusion, Dietz noted that ownership issues will eventually be resolved, but regarding supporting the team, all fans and management must stand united.
