Kretinsky Clinches Deal to Become Biggest West Ham Shareholder

Czech billionaire Daniel Kretinsky is set to become the biggest shareholder of West Ham United, after securing a deal to raise his stake in the scandal-hit English football club.

Kretinsky, who also owns the UK’s Royal Mail, will buy additional shares in the team from Vanessa Gold to raise his stake in the team to 43%, according to a statement . That’s up from the 27% he previously held.

As its largest shareholder, Kretinsky’s firm EP Group “will be able to provide the additional financing the club needs,” Kretinsky and Gold said in the joint statement.

Bloomberg reported earlier this month that Kretinsky was considering a deal to become the club’s largest shareholder through acquiring Gold’s shares. The deal is expected to be finalized in the next couple of weeks, according to the statement.

Read More: Kretinsky Is Said to Consider Becoming Top West Ham Shareholder

A deal marks the latest shake-up at West Ham, after David Sullivan resigned as chairman last week in the wake of allegations of historic sex abuse. The UK businessman, who is the largest shareholder of the club with 38.8%, denies the allegations. West Ham was also relegated from England’s Premier League last month.

Sullivan, 77, had acquired control of West Ham in 2010 alongside David Gold, who made their fortunes in the adult entertainment industry. Gold inherited her stake from her father, David, following his death in 2023.

Kretinsky, who also co-owns Czech football club Sparta Prague, became a shareholder in West Ham in 2021, buying a stake from Sullivan and Gold for £150 million ($201 million). He also owns a stake in UK supermarket chain Sainsbury’s.

“Our focus is now firmly on protecting the future of this football club,” Kretinsky and Gold said in the statement. “Our goal is to stabilise West Ham United, retain as many of our key players as possible and, under the management of Nuno Espírito Santo, secure an immediate return to the Premier League.”