By Stefan Acevski / info@eurohoops.net
Richard Deitz, co-owner of Maccabi Tel Aviv, issued a press release where he attempted to explain the current situation in the club to everyone.
Deitz spoke about the ownership dispute in Maccabi, emphasizing that “Jason Levien’s status as a purported 7.5% shareholder is unresolved and that other attempted purchases and sales of shares of Maccabi by Shimon Mizrahi and Oudi Recanati are halted pending the arbitration process”.
One of the owners of Maccabi called on everyone to put their egos aside and work in the interest of the club and the fans.
He also stated that the views of all parties regarding the future of the EuroLeague and the meeting at Lake Como are aligned, and they agree with the other shareholders as well.
Statement by Richard Deitz
Dear Maccabi Fans,
Here is a brief synopsis of the state of play of the ownership dispute from my perspective following today’s hearing: The dispute is finally headed to arbitration. This is the proper forum for resolving the legal questions involved. In the meantime, the court has made it clear that Jason Levien’s status as a purported 7.5% shareholder is unresolved and that the other attempted purchases and sales of shares of Maccabi by Shimon Mizrahi and Oudi Recanati are halted pending the arbitration process.
It was also decided that Jason Levien’s contrived effort to exercise a right of first refusal against the sale of 9% of shares to himself is categorically rejected. On the way to arbitration, the parties have agreed to attempt to reach a negotiated outcome via mediation. The identity of the mediator has not yet been agreed. Mediation is a non-binding process. I intend to approach the mediation in good faith, but with firm insistence that any consensual resolution properly addresses the needs of the club.
These bottom-line requirements include an ownership and governance structure capable of supporting Maccabi Tel Aviv’s return to the status of a leading EuroLeague club. This requires not only financial capacity, but also a commitment to organizational excellence. The ad hoc style of management which has too frequently failed the club over the last decade must give way to a professional and consistent approach to both our business processes and the working methods and conditions of the sporting side. If we can reach an effective agreement satisfying these parameters within a mediation process, that would be good news. It could allow the conflict to end and allow a transition to more effective management of the club to begin. I hope that all parties will set egos aside and approach mediation with a sole focus on the good of the good of our basketball club. Our players, coaches, employees and, most of all, our fans deserve no less.
On a separate note, I attended the EuroLeague owners’ meeting by Zoom today. (Due to prior commitments, I was unable to attend in person.) On the two topics covered—EuroLeague franchise model/expansion and NBA Europe—there is no difference of opinion within the Maccabi ownership group and Maccabi’s position is consistent with the overwhelming opinion of the other clubs.
Make