Royal Mail owner Daniel Kretinsky is set to become West Ham’s biggest shareholder by increasing his ownership in the club to 46%.
The Czech entrepreneur has reached an agreement with the Hammers’ other investors, including former chairman David Sullivan, concerning the Gold family’s 25% holding.
The agreement is expected to bring an end to former Newcastle director Amanda Staveley’s immediate attempt to invest in the club.
As part of the transaction, Sullivan will expand his ownership despite stepping down as chairman in June. He has said that he plans to contest the allegations made against him in a joint media investigation.
Co-chair Vanessa Gold had previously accepted an offer to transfer some of her shares to Kretinsky after the accusations involving Sullivan became public.
Earlier in the summer, however, she revealed that an agreement had been reached to sell her full stake to Staveley.
This activated West Ham’s complex pre-emption rules, which allow existing directors to receive priority when a substantial shareholding is offered for sale.
A transaction is understood to have been initiated before the deadline, with Kretinsky agreeing to acquire a sizeable block of Sullivan’s shares. Kretinsky’s holding will consequently rise to 46%, while Sullivan’s stake will eventually increase from 38.8% to 40%.
Another major investor, Tripp Smith, will raise his shareholding to 11%, leaving the remaining shareholders with a combined 3%.
The arrangement effectively removes Staveley from the deal.
Sullivan’s position at West Ham is already under review by the independent regulator, although the latest ownership changes are not expected to result in an additional investigation.
The regulator said its assessment of David Sullivan’s suitability under the owners, directors and senior executives framework remains active, with relevant authorities being contacted during the process.
Kretinsky, Gold, Sullivan and West Ham have not issued any comments regarding the matter.
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