Another historic phase in the rapidly unfolding Abraham Accords was recorded Monday when Sheikh Hamad bin Khalifa Al Nahyan, a member of the United Arab Emirates’ (UAE) royal family, purchased 50% of the Beitar Jerusalem football club.

The sheikh has committed to investing some NIS 300 million over the next 10 years in the team. The funds will be used primarily for investment in infrastructure, youth activities, and the acquisition of players for the development of the team.

A new board of directors will be formed for the group, which will include the Sheikh’s son, Muhammad bin Hamed bin Khalifa, who will be his father’s representative.

Israeli team owner Moshe Hogeg stated that “on the eve of Hanukkah, the Beitar menorah is rekindled in a new and especially exciting light.”

“Together, we are marching the club to new days of coexistence, achievement and brotherhood for the sake of our club and community and for Israeli sports,” he added.

Sheikh bin Khalifa said that he is ” thrilled to be a partner in such a glorious club and in such a city, the capital of Israel and one of the holiest cities in the world. I’ve heard a lot about the change taking place in the club and the way things are going, and I’m happy to take part in that.”

Israel Football League Administration Chairman Erez Kalfon stated after the signing of the deal that “football is a bridge to connect hearts and peoples, and the agreement will strengthen Beitar Jerusalem and all Israeli football.”