A member of Abu Dhabi’s royal family has bought a 50 percent stake in Beitar Jerusalem, the Israeli football team said.
As part of the deal announced Monday, Emirati royal Sheikh Hamad bin Khalifa Al Nahyan pledged to pump NIS 300 million (£69m) into the leading Israeli club.
The announcement comes after the United Arab Emirates agreed to establish diplomatic relations with Israel in a US-brokered deal earlier this year.
Owner Moshe Hogeg, who flew to Abu Dhabi earlier this month to pursue negotiations, said the deal heralded “new days of coexistence, achievements and brotherhood.”