Latest News

Co-chair Daniel Kretinsky has reduced his personal stake in West Ham United in order to block a hostile takeover by the consortium fronted by Amanda Staveley.

The Czech businessman has reduced his stake in the club by approximately 2% to just under 25%, which will allow him to purchase the entire Gold stake (25.1%) without exceeding the 50% figure that would trigger the compulsory purchase of the entire club.




And were he to do so, that would grant him a controlling stake at the club without triggering the deal to purchase other shares - including David Sullivan's 38.8% stake - at a greatly inflated price.

The consortium led by former Newcastle United co-owner Staveley agreed a deal to buy the Gold family's 25.1 per cent stake in the club at the weekend. However Kretinsky has now moved to fend off that possibility by selling 2% of his own stake to fellow Czech entrepreneur Jakub Havrlant.

"I am delighted that Jakub Havrlant has joined the West Ham ownership group as a shareholder, subject to the pre-emption process,” Kretinsky told Czech media on Tuesday, confirming the deal. “He brings exceptional experience as an investor and digital innovator and I have no doubt his involvement will strengthen our club."

As a result, Kretinsky in now in a position to purchase the Gold family’s shareholding without exceeding 50 per cent ownership of the club which, were he to do so, would trigger the compulsory purchase of all shares at the 2021 value of approximately £1billion - some £400million or so higher than West Ham's current value.

Staveley, who has spent the last few days briefing various sections of the media is yet to reveal the source of her financiers. While it has been stated she is representing her own company PCP Capital Partners along with American private investment firm Ashland Forest Capital Partners, it is unclear who specifically is funding the campaign.

She is yet to comment on Kretinsky's latest move.




Back in June, following news of the revelations regarding her predecessor David Sullivan, Vanessa Gold agreed to work with Kretinsky for the benefit of the football club.

The agreement lasted less than two months, with Gold stating cryptically: "Unfortunately, since that time the original deal and other alternatives that we have discussed could not be brought to fruition."

* Something to say about this story? Please visit the KUMB Forum to leave a comment.