By Aris Barkas/ barkas@eurohoops.net
The new owner of Maccabi may be decided in the Tel Aviv District Court via arbitration.
Minority shareholder Richard Deitz, who used his right of first refusal to become the majority owner of Maccabi, responded with legal action to Maccabi chairman Shimon Mizrahi’s countermove.
Mizrahi used his own right of first refusal to get the majority, and the result might be an arbitration, with Deitz not wanting the majority of the ownership to be transferred to US-based businessman Jason Levien.
Deitz made the following announcement in which he explains his action and also responds to Shimon Mizrahi: “Today, as reported in the press, I filed a motion for urgent relief with the Economic Division of the Tel Aviv District Court and a notice of arbitration. I took this step reluctantly after Oudi Recanati sent a midnight notice canceling a planned shareholder meeting and announcing the unilateral transfer of 7.5% of the shares of Maccabi to Jason Levien. This transfer, in contradiction to the requirements of the shareholder agreement, was the latest in a series of violations which have grown too numerous to count. All of these violations were contrived to conceal attempts to transfer control of the club to Jason Levien.
I also read Shimon Mizrahi’s statement yesterday. Shimon is a legend, and I have tremendous respect for him. Maccabi’s trophy case is full of hardware won under his long stewardship. Maccabi has been his life’s work and his love for the club is unquestioned. This is a love we both share, even if we differ in our vision.
Where I part from Shimon is in slandering one’s partners. To deceive and plot against a partner and then call that partner disloyal for placing his allegiance with Maccabi rather than the plotters is hypocritical. All the more so when that partner has, for 13 years, steadfastly supported the club, never made waves or sought publicity, and always worked to heal the rifts between partners and build consensus.
I’m aware of the intense interest among our fan base in this matter. It’s because all of you are stakeholders in Maccabi. It is also regrettable. We are on the verge of a new season, which we approach with hope and high expectations. This internal battle does not put Maccabi’s ownership in a good light and is a distraction. It will also take time to play out.
I don’t believe in litigating in public. There is much dirty laundry to be aired, but legal matters are for courts and arbitrators to decide, having reference to facts, documents, and the law. I know our fans and the media will follow this story, but I want to remind everyone that the more important story is the one on the court. Oded and our Captain, John D., will be leading our squad into battle with an exciting roster. Regardless of your point of view, I ask you to give the team your full support.
In the fullness of time, the ownership issues will be resolved. Perhaps at some point cooler heads and rationality might even prevail. But regardless of those divisions, there should be no daylight between any of us when it comes to supporting our team.
Yalla Maccabi!”
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