- Joined
- May 8, 2002
- Posts
- 1,247,290
- Reaction score
- 59
You must be registered for see images attach
Can Křetínský rescue West Ham after replacing Sullivan as majority shareholder?
The 24th richest person in the United Kingdom and owner of the Royal Mail, Daniel Křetínský has become the majority shareholder of West Ham following the departure of David Sullivan.
The Czech’s share in the East London club will rise from 27% to 43%, exceeding the 38.8% owned by former joint chairman David Sullivan, who resigned last Saturday following “serious historical allegations” of inappropriate conduct.
Křetínský increased his share after agreeing a deal with the Gold family to purchase a large portion of their stake, bringing an official end to Sullivans’ tumultuous 16 years as the club’s majority shareholder.
Vanessa Gold, who inherited the interest from her late father, David Gold, has been looking to sell a portion of her family’s shares and has seemingly done so, as she sees her stake go from 25.1% to 9.1%.
West Ham released a joint statement on their website this afternoon, from both Křetínský and Vanessa Gold, where they reassured fans of an immediate return to the Premier League following this move.
The statement read: “We have reached an agreement on the key terms of a share purchase transaction between the Gold family and 1890 Holdings (part of the broader group EP), which, subject to other shareholders’ pre-emption rights and necessary approvals, would make 1890 Holdings the largest shareholder in West Ham with an approximately 43%.
“As the largest shareholder, group EP will be able to provide the additional financing the club needs.
“We expect to finalise this transaction in the next couple of weeks. 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.
“As shareholders and directors of West Ham, our focus is now firmly on protecting the future of this football club. Our goal is to stabilise West Ham, retain as many of our key players as possible and, under the management of Nuno Espirito Santo, secure an immediate return to the Premier League.
“We are also committed to engaging with our fans and all business partners to build a stronger future for our Club. We have already taken concrete steps toward this goal.”
It follows West Ham’s relegation to the Championship after finishing 18th in the Premier League last month, a first for the London side in 14 years. With that, several problems will arise over the summer that the club haven’t faced for some time.
The exposure and financial security from the Premier League have been lost, leaving the club with a decrease in television revenue, which they already encountered last season, with a 19.1% decrease from the 2024/25 season.
In the latest financial accounts, the Hammers reported a record pre-tax loss of £104.2 million. Since their financial model built around Premier League revenues, relegation could cost the club anywhere between £120 million and £150 million.
This will most likely lead to many prominent members of the first-team having to be sold just to balance the books.
This can be seen already with key players such as their captain Jarrod Bowen, Mateus Fernandes, and Crysencio Summerville already linked with big-money moves away from the club this summer.
While the club will receive around £55 million in parachute payments, Křetínský will need to balance the ambition of an immediate return with the reality of operating on a reduced income.
Despite the financial issues, Křetínský’s wealth should excite West Ham fans, with the Czech billionaire having a reported net worth of £8.185 billion, massively exceeding former majority shareholder David Sullivan, who is worth a reported £1.2 billion.
Křetínský will be the second-richest owner in the Championship, after Wolves, who are owned by Fosun International. There’s no secret that promotion back to the top-flight will require investment, and there’s hope now that Křetínský will inject further capital into the club to return at the first attempt.
There is already a sign of change following the statement on the club’s website, with Křetínský and Gold mentioning retaining as many of the club’s key players as possible.
This brings hope that the club potentially isn’t in as bad a financial state as it has been reported in the last few months, as it had been said that the club would have to sell a large portion of the squad to help with finances.
Not only is he a majority shareholder of West Ham, but Křetínský is the Chairman and Majority shareholder of AC Sparta Prague in the Czech Republic.
His tenure at Sparta Prague provides perhaps the clearest indication of what his leadership could look like at West Ham.
Since taking over in 2004, Sparta have re-emerged as a threatening side domestically and have regained presence on the European stage.
This demonstrates the billionaire’s understanding of football ownership and his willingness to invest in both sporting success and long-term stability.
While Křetínský’s football financial strength is viewed as positive, his business track record has not escaped criticism. The 50-year-old purchased Royal Mail’s parent company, International Distribution Services, in 2025.
This means he is the owner of the postal company, but the UK government is still required to approve any major changes to the company’s headquarters, tax residency or ownership.
During his ownership, there have been several negative aspects. Service standards have deteriorated. In October 2025, Royal Mail were fined a record £21 million by Ofcom after failing to deliver first-class letters on time.
Křetínský has pushed back on these criticisms as well as more. This led to concerns that he might pursue efficiency and profitability, which, if you’re a West Ham fan, raises concerns that he could do that now he’s in control of the club.
Whilst there are areas of uncertainty surrounding the Czech, nobody truly knows what Křetínský’s vision is for West Ham. With David Sullivan potentially looking to sell his 38.8% stake in the club, the Czech could increase his stake even more.
Křetínský’s track record offers West Ham supporters reasons for both optimism and caution. The fact that the likes of Karen Brady and Sullivan have left the club has left a large portion of the West Ham fans thinking they have their club back.
But whether the Czech billionaire can rescue the club will ultimately depend on the decisions he makes now that he holds the club’s largest stake.
Continue reading...
