By Aris Barkas/ barkas@eurohoops.net
Richard Deitz, an American investment manager based in London, is becoming the new majority owner of Maccabi Tel Aviv.
With the Federman family leaving the club during the summer, obvious changes were expected.
However, Deitz, who got part of Maccabi’s ownership in 2013 together with Ben Ashkenazy, initially owned 17,5% of the club. As he announced, he is using the right of first refusal to block the sale to Jason Levien, CEO and co-chairman of Major League Soccer club DC United and the chairman of the Brisbane Bullets, an NBL club, and to get the majority ownership stake in Maccabi.
Deitz issued the following written statement: “Today, after being informed by Oudi Recanati, Shimon Mizrahi and Ben Ashkenazi of their intention to sell majority control of Maccabi Tel Aviv BC to Jason Levien, I exercised my rights of first refusal on 38% of the club’s shares. This would bring my stake to at least 55.5% (and, potentially, 62%).
I did this for one reason: to protect Maccabi.
With other shareholders seeking to reduce their financial commitment to the club, it was reasonable for them to look for assistance. In my view, however, offloading control of the club to an investor without any prior association with Maccabi or experience in European basketball was an excessively risky proposition. I might have welcomed a staged approach, but not a leap into the unknown.
Maccabi is much more than a sports club or a financial asset. It is a way of life, an unexplainable passion, and a team that touches and changes the lives of all those who root or play for it. Owning the club is more than just a business proposition. It is a form of stewardship.
I came into the club in 2013 as a newcomer. I spent years watching and learning. I observed David Blatt’s masterclasses in coaching, absorbed the history and culture, traveled with the team, ate meals with the players, talked to the professional staff, spent time in the weight room, watched the work habits of players, got to know our fans, and felt the elation and agony of wins and losses.
I can say to truly know Maccabi Tel Aviv takes time. And one thing I know for certain is that our fans are great, but impatient for results.
My mission is clear: put internal battles behind us, build excellence in every corner of the organization with world-class expertise on our board, and return Maccabi to its place among Europe’s powerhouses, with championships and cups back in Israel. This means honoring the generation that made Maccabi great while empowering a new one to carry the tradition forward.
I start with high hopes for this season. We have a talented, high-character squad with the right blend of continuity and fresh energy, and top-notch coaching.
And we have you, our fans. Our true secret weapon, the force that lifts our players beyond themselves on the court. When the players clap and salute you after every game, it is earned. If we are going to succeed, there is only one way.
The Maccabi way. Together.”
Make