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Daniel Kretinsky will become the largest shareholder at West Ham, the club have confirmed – and he’s willing to fund their bid for an immediate return to the Premier League.
The Royal Mail owner’s share will rise from 27 per cent to 43 per cent after he agreed a deal with the family of David Gold to buy an additional stake.
It comes after David Sullivan resigned as director and joint-chair following historic allegations that he abused his power and preyed on women for sex, as revealed by The Times and Panorama. He denies them.
Sullivan was the largest shareholder with a 38.8 per cent stake, but Kretinsky overtakes him after striking a deal with Vanessa Gold, who inherited her share from father David when he died in 2023.
The ‘king of porn’s’ share is now being looked into by the Independent Football Regulator (IFR) and he could be forced to sell up.
A statement from West Ham read: ‘We were deeply concerned by the revelations made by The Times and Panorama this week and our thoughts go out to those women who have fought so hard to make their voices heard.
Daniel Kretinsky will become West Ham’s largest shareholder, riising to a 43 per cent stake
Pornography baron David Sullivan may be forced to sell his 38.8 per cent stake after allegations that he abused his power and preyed on women for sex
‘Any abuse of power is abhorrent, and it takes great courage and determination to speak up against it.
‘The full West Ham United board was not notified about these allegations against David Sullivan until approximately a month ago, when he informed us that certain allegations against him may be published.’
The transaction for Kretinsky to assume more shares is expected to take a couple of weeks.
West Ham’s statement continued: ‘As the largest shareholder, [Kretinsky’s] group EP will be able to provide the additional financing the club needs.
‘Once the agreement is complete, group EP and the Gold family have also agreed to vote jointly on key matters and to support the strategy targeting an immediate return to the Premier League.
‘Alongside Daniel Kretinsky and Vanessa Gold, the other Shareholders, namely Tripp Smith, Daniel Harris and Terry Brown, are fully aligned on this strategy and stabilising the Club.
‘We are taking these steps because West Ham United needs to be truly united at this moment in its history. We believe that a strong coalition – of fans, players, management and the board – is essential to securing the bright future this club deserves. We are absolutely committed to playing our part.’
Sullivan and Gold took control of West Ham together in 2010, having previously owned Birmingham City.
Kretinsky came onboard in 2021 with a £150million stake.
The Czech billionaire is also a large shareholder in and the president of Sparta Prague.
