Canadian Jewish businessman Alex Shnaider officially completed the purchase of Maccabi Tel Aviv soccer club on Wednesday morning. Shnaider will own 80 percent of the club with the remaining 20 percent owned by the Maccabi Tel Aviv sports federation. "Shnaider and the Maccabi federation purchased Maccabi Tel Aviv out of love for sport, soccer, the club and its massive loyal support," Shnaider's representative in Israel, Aviv Bushinsky, said after the deal was finalized on Wednesday. "Shnaider and CEO Uzi Shaya are now at the helm of the club with the goal of investing and marching the club forward." Although the price paid by the 39-year-old Shnaider was not revealed, it is believed to have been in the region of NIS 65 million. "This is an historic day," said David Federman, who helped former owner Loni Hertzikovitch and Shnaider complete the deal. "We couldn't have asked for a better owner. I'm sure Alex wants Maccabi to compete for all the titles."