Betar’s new owners ready to take control after injunction

Former sponsor Guma Aguiar turned to the court claiming that he should be paid back the $4 million he gave the club two years ago.

July 25, 2011 23:43
1 minute read.

ADAM LEVIN 311. (photo credit: Courtesy)


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The last obstacle standing between Dan Adler and Adam Levin and the takeover of Betar Jerusalem fell on Monday after the Jerusalem District Court lifted the injunction it handed down last week.

Former sponsor Guma Aguiar turned to the court claiming that he should be paid back the $4 million he gave the club two years ago, according to a contractual clause.

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However, after Judge Moshe Drori demanded that both sides try and come to a solution without the court’s involvement on Monday, the attorneys reached an agreement that $400,000 will be transferred to a trustee for the time being and the injunction will be lifted so that Betar can continue with its preparations for the coming season.

Aguiar believes that the $400,000 Adler and Levin agreed to pay to Arkadi Gaydamak’s creditors for the ownership of Betar should be transferred to him and he plans to file a law suit on those grounds.

However, Betar’s biggest concern was ensuring that the injunction would be lifted and Adler and Levin were delighted with Monday’s developments.

“We have already ordered our lawyers to transfer the $400,000 to the trustee’s account and we are working with chairman Itzik Kornfein on a respectable budget for the club,” Betar’s new owners said in a press release.

“Our goal is to give Betar a new start and we have full faith that the management, coaching staff and players will build a fine and stable team.”

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