Shock at Hapoel Haifa: Owner Yoav Katz stops supporting the team

A major shock occurred this morning (Sunday, May 18.5.2025, XNUMX) at the Hapoel Haifa football club when it was learned that the owner of the Reds team, Yoav Katz, announced in a letter he sent to the Budgetary Control Authority of the Football Association and also to the Football Leagues Director that he would stop his investment and support in the club at the end of the current season. Katz also stated in his letter that CEO Itai Rak and Attorney Yuval Shadmi would be the team's trustees and representatives on his behalf.

Personal and health considerations

In his letter, Katz wrote: "I would like to formally and definitively inform you that I intend to stop my personal financial investment in the Hapoel Haifa football club that I own, at the end of the current season. For over 2 decades, I have accompanied Hapoel Haifa and invested huge sums in it, millions of shekels every season, out of a deep sense of commitment, love for the club, love for the game, and belief in the importance of sports in general and football in particular as an inseparable part of Israeli society and the city of Haifa. The decision to stop investing was made after in-depth consideration and out of a sense of responsibility and awareness of the natural changes that the current period in my life brings with it, both in terms of my age and in light of personal and health considerations that require focusing on other areas."

I'm not leaving the club, but I don't expect to inject any funds.

Yoav Katz further noted, writing: "The decision to discontinue the investment was made after in-depth examination and out of a sense of responsibility and awareness of the natural changes that the current period in my life brings with it, both in terms of my age and in light of personal and health considerations that require focusing on other areas. It should be emphasized that I am not abandoning the club, but I intend to stop serving as an address for financial inquiries and a source of funding for the ongoing activities and management of the team. This means that from now on, I am not expected to inject funds for the 2025/2026 season and beyond."

I entrust the ongoing management to CEO Itay Rak and Attorney Yuval Shadmi.

However, I will work to cover the club's ongoing obligations relating to the current season. I invite any entity, individual or corporation, interested in entering the picture and assuming ownership and rights of the club, to contact me or my representatives regarding the possibility of transferring the management and operating rights of the club, with the aim of ensuring its future and stability in the future. 

From this date until further notice or until a suitable entity is found to assume the management rights of the club, I entrust the ongoing management to CEO Itai Rak and Attorney Yuval Shadmi, who will serve as trustee and representative on my behalf. The two will act for the club and will be responsible for all administrative aspects, including dealing with budgetary control. For this purpose, Rak and Shadmi will be the authorized and representative entities of the club in all matters related to budget approvals for the next season, and in particular in all matters related to the club's guarantees, collateral, and obligations towards the Authority.

"I would like to thank you again for your support, cooperation and joint efforts over the years, and for your important activity in maintaining soundness and proper financial conduct in football clubs in Israel."