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

Czech businessman Daniel Kretinsky, the owner of Royal Mail, has struck a deal to acquire a 46% stake in West Ham United, a move that makes him the club's largest shareholder. The agreement, reached with the current owners including former chairman David Sullivan, effectively ends Amanda Staveley's immediate hopes of investing in the London club.

• Kretinsky will control 46% of West Ham shares, moving ahead of David Sullivan, whose own stake rises from 38.8% to 40%.
• The sale of the Gold family's 25% holding triggered a complex pre-emption rights agreement among current board members.
• Amanda Staveley, the former Newcastle director, is left out of the process despite having earlier agreed to buy Vanessa Gold's full stake.
• Third major shareholder Tripp Smith will lift his ownership to 11%, with remaining shareholders holding 3%.

How the West Ham ownership structure changes after the Kretinsky deal

The ownership reshuffle transforms the power structure at the east London club. Daniel Kretinsky will hold 46% of the shares, a figure that gives him the largest single stake and a dominant voice in decision-making. David Sullivan, who stepped down as chairman in June, will see his shareholding increase from the current 38.8% to 40%, even though he has left the executive role.

The third significant shareholder, American businessman Tripp Smith, will increase his position to 11%. The remaining 3% will be held by other minority owners. The entire operation has been structured around the sale of the 25% stake that belonged to the Gold family, a package over which existing directors held pre-emption rights.

David Sullivan strengthens his stake despite ongoing regulatory scrutiny

The former West Ham chairman had already said he intended to fight allegations made against him in a joint BBC Panorama and Times investigation. The share sale to Kretinsky does not alter that picture: the independent football regulator had already opened an assessment of Sullivan's suitability as an owner under its regime for directors and senior executives.

The regulator itself has confirmed that its enquiries into Sullivan's suitability remain active and ongoing, and that it is in touch with relevant authorities as part of that process. The latest share transaction, according to those familiar with the matter, will not trigger any further examination by the regulator.

Kretinsky's stake in West Ham reaches 46%, establishing him as the club's largest shareholder by a considerable margin over the rest of the ownership group.

Amanda Staveley is pushed out of the West Ham ownership race

Kretinsky's arrival frustrates, at least for now, the plans of Amanda Staveley, who during the summer had reached an agreement in principle with co-chair Vanessa Gold to purchase her entire holding. That move activated a complex pre-emption mechanism within West Ham's ownership structure, giving current directors first refusal on any significant share sale.

The final agreement was completed before the deadline expired, with Kretinsky buying a substantial portion of the shares on offer. The deal leaves Staveley with no room to execute her investment in the London club, at least during this round of corporate activity.

From Conference League triumph to a new ownership era at West Ham

The east London club won the UEFA Conference League in 2023, ending a European trophy drought of more than five decades. That final in Prague placed Kretinsky himself in the stands, an image that already hinted at the Czech magnate's growing interest in tightening his links with the club.

The ownership restructuring comes with West Ham established in the Premier League, though far from the continental sparkle of that campaign. The change at the top of the ownership structure opens a period of institutional stability at a club that has experienced several episodes of tension between the stands and the boardroom in recent years.

Frequently asked questions about Daniel Kretinsky's West Ham takeover