Hapoel planned to be the first Israeli soccer club to hit the floor running. But its dreams of scoring on the Tel Aviv Stock Exchange are looking increasingly remote, hinted co-owner Moshe Theumim today.

"We will convene next week to discuss our next moves," Theumim said, but later amended the date of the meeting to "two weeks, maybe more".

A month ago the club received permission from the Tel Aviv Stock Exchange to offer 50 million to 67 million bonds to the public. The club's owners received the go-ahead to piggyback on the offering and sell another 25 million to 33 million bonds they hold.

In the last five years the club's owners have infused NIS 47 million to the group.

Hapoel ended the 2001 on NIS 29 million revenues and a net loss of NIS 10.8 million. For 2000 it posted revenues of NIS 21.4 million, and a loss of NIS 8.2 million.

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