Matan Adelson completed the deal to acquire the Hapoel Jerusalem basketball team. Adelson will hold 90% of the team's shares and the fans' association 10%.
The professional team is working on building a multi-year plan that the owner will present at the end of the season. The team was acquired out of great passion for basketball and Israel and out of the belief that he would lead the team to the top of Israeli and European basketball, Adelson said in a statement.