Maccabi Tel Aviv Ownership Battle Peaks Ahead of Arbitration
Arik Stiltman published a dramatic expose detailing the bitter ownership battle at Maccabi Tel Aviv Basketball ahead of next week's crucial arbitration proceedings.
The ownership crisis at Maccabi Tel Aviv Basketball has reached a boiling point as Arik Stiltman published an unprecedented and dramatic post revealing his side of the bitter battle for control. Ahead of the arbitration proceedings set to open next week, Stiltman detailed alleged attempts to push out the Federman family, secret deals, and a direct clash with the Recanati family and Shimon Mizrahi.
The Roots of the Crisis and the Fight for Shares
According to Stiltman, the crisis began when relations between the Federman and Recanati families deteriorated. After attempts to bring in the American Wilf family were blocked, Stiltman stepped in and acquired 50% of "Fedenco", which holds 29% of Maccabi's shares. This move automatically triggered the right of first refusal on the Federman shares to pave the way for new investors, but it met fierce backlash.
Stiltman claims that a parallel counter-plan was formulated with businessman Jason Levin to transfer 43% of the club to him, alongside a commitment to cover capital injections from older partners. When strong opposition arose in the board against Levin's entry, the Recanatis allegedly tried to alter the deal on the fly, selling Levin only 7.5% immediately so he could act as a shareholder capable of exercising a right of first refusal.
The Entry of Richard Dietz and the Upcoming Arbitration
The saga further escalated when Richard Dietz entered the picture, announcing his intention to purchase the entire 29% share package for roughly $50 million, even posting a 12 million NIS bank guarantee.
Stiltman concluded his post with a sharp warning ahead of the legal showdown:
I am convinced that once all the evidence is presented, this plan will not withstand the arbitration test. They still have a chance to minimize the damage and avoid opening Pandora's box – see you in arbitration, or maybe not.
With the identity of the arbitrator agreed upon by all parties, the proceedings are scheduled to open next week, moving the battle for the club's future into the courtroom.
