Hapoel Jerusalem becomes the property of new owners

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It was announced on Thursday that a group of investors led by businessman Matan Adelson has acquired a 70% stake in the Hapoel Jerusalem basketball club.

The deal was closed in an atmosphere of non-disclosure. Michael Davis, CEO of JSM Group, the majority shareholder of the group, decided to sell his stake in a surprise last-minute announcement.

The club is expected to will receive financial support, ending the recession after the virtual departure of Uri Alon. The new ownership group will gradually invest significant sums in the club with the aim of “making Hapoel Jerusalem the biggest team in Israel and the face of Israeli basketball.”

"National Cup won by the team this year — this is just the beginning, and I have no doubt that this will be just one of the many successes that the team will achieve in the coming years”, & mdash; Adelson said.

Eyal Chomsky, the team's current owner, is expected to remain with the club and continue to own part of the team's shares. It is possible that in the future, Adelson will want to buy out all the shares of the company, including Chomsky's share.

Unlike previous cases, this time a well-known personality and a prominent figure became the central figure in the group, and an anonymous or shadow person Adelson comes from a wealthy family known both to the Israeli public and abroad, and his family has invested in Israel over the years.

Alon will officially leave the club along with Moshe Greenberg. The two have agreed to donate all of their sales proceeds for charity, charitable associations and foundations, and for the purposes of the Jerusalem Municipality, part of which is for the construction of a new digital medicine center initiated by the Hebrew University in Hadassah Hospital.

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