A member of Abu Dhabi's ruling family has purchased a 50 per cent stake of Israeli Premier League football club Beitar Jerusalem, the team announced on Monday.
The purchase comes amid a flurry of business deals between Israel and the United Arab Emirates following their move to establish formal diplomatic relations in September.
In an announcement posted on its website, Beitar said Sheikh Hamad Bin Khalifa Al Nahyan's purchase also included a commitment to invest more than 300 million shekels ($92.18 million) in the club over the next 10 years.
BIG NEWS: Emirati businessman buys 50% of Beitar Jerusalem football club – the only football club in the Israeli Premier League to have never signed an Arab player due to anti-Arab racism by large part of its fans
— Barak Ravid (@BarakRavid) December 7, 2020
Beitar Jerusalem is a bastion of Israel's political right-wing and a group of supporters known as La Familia has been openly abusive toward Israel's Arab minority.
Beitar's announcement on Monday quoted Sheikh Hamad as saying: "I am thrilled to be a partner in such a glorious club that I have heard so much of and in such a great city, the capital of Israel and one of the holiest cities in the world."
The reference to Jerusalem as Israel's capital is significant given the city's status as one of the core issues in the Israeli-Palestinian conflict.
Israel regards all of Jerusalem as its capital, a position that is shared by the United States but not recognised by most countries. Palestinians seek the city's east, which Israel captured in a 1967 war, as capital of a future state.
Following its deal to establish ties with Israel, the UAE said it was committed to the establishment of a Palestinian state with East Jerusalem as its capital.
Beitar said it would form a new board of directors following Sheikh Hamad's purchase and that his son would join the body to represent him.
In October, the UAE and Israeli soccer leagues signed a memorandum of understanding to bolster cooperation.