Czech billionaire Daniel Kretinsky has increased his stake in West Ham United to around 43%, becoming the English soccer club's largest shareholder, following the resignation of co-chairman David Sullivan amid allegations of misconduct.
Through his investment group, 1890 Holdings, Kretinsky has raised his stake from 27%, which he first acquired in November 2021, after striking a deal with West Ham's joint-chair Vanessa Gold. The transaction is expected to be finalised in the coming weeks.
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That agreement made him the second-largest shareholder at West Ham and included an option to acquire the shares owned by David Sullivan and the late David Gold for a set price.
Sullivan resigned with immediate effect last week after the BBC, through its investigative documentary series BBC Panorama, and the Times newspaper published a joint investigation into his behaviour, accusing him “of sexually exploitative and predatory behaviour” towards women “going back decades”. Sullivan has denied the allegations.
In a joint statement published by the club, Kretinsky and Vanessa Gold said they were “deeply concerned” by the revelations from the investigation into Sullivan’s alleged conduct.
They added: “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.
“However, the full details of the allegations, which Mr Sullivan denies, only became apparent when they were made public on Monday (8 June).
“In addition, as communicated by West Ham United, the board representatives of shareholders other than Mr Sullivan were only made aware this week of the safeguarding measures that have been in place since 2023.”
The ownership change comes during a difficult period for the east London club, which was recently relegated from the top-flight Premier League and will play in the second-tier EFL Championship for the first time since the 2011-12 season.
