Allon group including NBA's Stoudemire purchases 60% of Hapoel Jerusalem

Group wins auction for Guma Aguiar's stake in club after promising to invest NIS 15 million over next three years.

July 3, 2013 14:27
1 minute read.
New York Knicks power forward Amar'e Stoudemire

Amar'e Stoudemire 370. (photo credit: REUTERS)


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


The Administrator General announced on Wednesday that a group led by businessman Ori Allon has purchased a 60 percent stake of Hapoel Jerusalem previously owned by Guma Aguiar.

Following Aguiar's disappearance at sea off the coast of Florida a year ago, his ownership stake was put up for sale. The Allon group was confirmed on Wednesday as the winner of the auction held by the Administrator General after promising to invest NIS 15 million in the club over the next three seasons.

Be the first to know - Join our Facebook page.

Last week, New York Knicks power forward Amar'e Stoudemire tweeted that he had joined the group headed by the 32-year-old Israeli, who made his fortune in the US by selling Hi-Tech startups to both Google and Twitter. The ownership group also includes advertising bigwig Eyal Chomski and American sports agent Arn Tellem.

However, the Allon group's takeover of Hapoel is still far from complete. The Hapoel Jerusalem organization, which currently owns the remaining 40 percent of the club, has got 90 days to equal the Allon group's offer for Aguiar's shares to seize complete control of the team.

The head of the organization, former club chairman Danny Klein, is pushing to match Allon's offer, but not everyone in the organization supports his initiative. As things currently stand, representatives from the organization plan to meet with the Allon group to discuss how both parties can cooperate for the good of the club.

"Aguiar's wish was to see Hapoel Jerusalem as a leading team with financial stability, involved in the city of Jerusalem and representing it in a respectable sporting manner," said Administrator General David Hahn. "The new investment will make possible the realization of Aguiar's wish."

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

dudi sela
August 31, 2014
Sela steamrolled by Dimitrov