Shtilman submitted a new offer to purchase Recanati's shares in Maccabi Tel Aviv

Arik Shtilman, founder and CEO of the fintech company Rapyd and the main sponsor of Maccabi Tel Aviv, has submitted a new offer to the Recanati family to purchase all of their holdings in the club. The offer, which was conveyed to Udi and Shie Recanati, includes a payment of 120 million dollars for 58% of Maccabi's shares.

About a week and a half ago, Shtilman offered 100 million dollars for the entire 58% stake held by the Recanati family. His current offer of 120 million dollars reflects a higher valuation even compared to the deal in which the family purchased the 29% stake of the Federman family, held through the company 'Fedenko Sport', for 50 million dollars.

The move comes at a time when the Recanati family is advancing a different deal. The family, which holds 58% of the club's shares, has informed its partners that it intends to sell half of its holdings – 29% – to the Jewish-American businessman Jason Levien. The deal could go through as early as this week.

Levien, 52, is an American sports executive and investor who specializes in owning and managing soccer and basketball teams. He began his career as a player agent and later held senior management positions, including CEO of the Memphis Grizzlies of the NBA.

The shares that the Recanati family is seeking to sell are effectively the stake that was held by the Federman family through the company 'Fedenko Sport'. The Recanatis acquired the shares after exercising their right of first refusal and preventing Shtilman from entering as a new owner in the club. Now, the remaining shareholders have 30 days to notify whether they wish to exercise their right of first refusal and purchase the 29% offered to Levien themselves. Besides the Recanati family, the shareholders in the club are Shimon Mizrahi (14.5%), Richard Deitch (17.5%), and Ben Ashkenazi (10%).