Kretinsky: I am honored to become West Ham's largest shareholder and will not take it lightly

According to The Athletic, Czech businessman Daniel Kretinsky has reached an agreement with other West Ham United shareholders to increase his stake in the club from 27% to 46%, making him West Ham United's largest shareholder. Meanwhile, David Sullivan's stake will increase from 38.8% to 40%, while Tripp Smith's stake will rise from 8% to 11%.

The deal also means that former Newcastle United co-owner Amanda Staveley’s attempt to acquire shares from the Gold family has fallen through. Previously, Staveley led a consortium seeking to purchase the 25.1% stake held by Vanessa Gold. Those shares came from her late father David Gold.

The Athletic previously reported that Staveley and the Gold family had reached an agreement, but the deal was affected by a pre-emption rights clause, which allowed existing West Ham United shareholders to have priority in purchasing the shares being sold by the Gold family. In the end, Kretinsky, Sullivan and Smith all increased their stakes.

Kretinsky said in a statement: “I feel deeply honored to have the opportunity to become the largest shareholder of this great club. I fully understand what responsibility this means, and I will not take it lightly.”

He also said: “I would like to thank all the shareholders who continue to remain at the club for their constructive efforts in helping achieve this outcome, and for providing the certainty the club needs at such a crucial time. Once all these transactions are completed, I look forward to having more communication with our supporters.”

Vanessa Gold also confirmed the agreement. She said: “I am delighted that West Ham United’s shareholders have reached an agreement, with Daniel Kretinsky becoming the club’s largest shareholder and taking a more active role in club decisions. This will also provide certainty for supporters and allow everyone to have a clearer view of the club’s future direction.”

She added: “Throughout this process, my goal has always been to ensure that the club has the right leadership to allow West Ham United to fulfill its potential and return to the position it deserves in the Premier League. This agreement was first proposed in June, and it can now bring stability to the club, allowing the club and management to continue focusing on the football season itself.”

“I would also like to thank Amanda Staveley and her partners for taking part in the process, as well as for the passion they have shown for West Ham United throughout.”

Gold also said she would retain a small stake in the club: “It has been an honor to serve as joint chairman and a director of the club, and I am very proud to continue the legacy left by my father David Gold. I will remain at the club as a minority shareholder, but more importantly, I will always be a supporter who loves West Ham United. I wish Daniel and the new leadership all the best, and I thank the fans for their continued support and kindness.”

This season, West Ham United are competing in the Championship after being relegated last season, ending the club’s run of 14 consecutive seasons in the Premier League. The team coached by Nuno Espirito Santo recorded one win, two draws and one defeat in the first four league matches of the new season.