At the end of the 1991–92 Liga Artzit season the club was relegated to the third tier and then disbanded in 1993.

A consortium of Israeli investors purchased the club rights.

Arik Izikovich, with the help of National team manager Shlomo Scharf had re-founded the club as a feeder team in the hope of transferring young Israeli players to European clubs and improving the national team.

The club relies heavily on transfer fees and loan arrangements.

The annual budget is generally around 3 million shekels, with about a third of that budget coming from Ya'akov Shahar of Maccabi Haifa ($130,000 for the first option on two under-21 players) and Meir Shamir ($100,000).