Kretinsky to become West Ham's largest shareholder with 46% stake

Czech billionaire Daniel Kretinsky, who also owns Royal Mail, has struck a deal to take a 46% stake in West Ham United, becoming the club's largest shareholder. The agreement was reached with the club's remaining shareholders, including former chairman David Sullivan, concerning the 25% stake previously held by the Gold family.

The deal is expected to end, at least for now, any immediate hopes held by former Newcastle director Amanda Staveley of investing in the Premier League club. Co-chair Vanessa Gold had earlier agreed to sell part of her shares to Kretinsky following the emergence of allegations against Sullivan. However, she later announced during the summer that she intended to sell her entire stake to Staveley instead, a move that triggered a complex pre-emption rights process at the club, giving existing directors first refusal on any major share sale.

According to reports, an agreement among the club's directors was finalised before the relevant deadline, resulting in Kretinsky agreeing to purchase a significant portion of shares from Sullivan. This will raise Kretinsky's stake to 46%, while Sullivan's holding will eventually increase from its current 38.8% to 40%. A third major shareholder, Tripp Smith, will see his stake rise to 11%, with the remaining shareholders together holding 3%.

The arrangement effectively excludes Staveley from the ownership process. Sullivan stepped down as chairman in June but has said he intends to contest allegations made against him in a joint investigation by BBC Panorama and The Times. His suitability to hold a role at the club is already under review by English football's independent regulator, though it is understood this latest ownership change will not prompt a fresh inquiry. Kretinsky, Gold, Sullivan and West Ham have not commented on the developments.