Recanati family takes control of Maccabi Tel Aviv in $50 million deal...

The Recanati family has finalized a $50 million deal to take control of Maccabi Tel Aviv basketball club by exercising its right of first refusal to purchase the Federman stake. This acquisition increases their ownership stake in the club to 58% and concludes a previously proposed investment by Rapyd CEO Arik Shtilman.

Maccabi Tel Aviv is one of the premier sports clubs in Israel, having a storied history in both Israeli and European basketball competitions. This acquisition highlights the ongoing investment and interest in the team's future success in the basketball landscape.