Czech billionaire Daniel Kretinsky now leads West Ham United's ownership with 46%, up from the 27% reported in the club's latest accounts. David Sullivan also bought more, moving to 40% from 38.8%. In those March filings, Sullivan was the biggest holder.
With this reshuffle, practical control shifts toward Kretinsky. As he put it in a Friday statement, "I am deeply honored to have the opportunity to become the largest shareholder" and he understands the responsibility that comes with it.
The shares came from Vanessa Gold, who earlier this year said she intended to sell her 25% position. Amanda Staveley, formerly a joint owner of Newcastle United and backed by an American investor, struck a deal for Gold's stake and toured the club's ground this week. However, West Ham's pre-emption rules gave current shareholders first refusal on the shares, and they exercised that option.
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West Ham's pre-emption process gave existing owners the right to purchase the shares. Within that setup, Sullivan could have taken an even larger slice than he did. He stepped down in July as a director and co-chair.
A club statement at the time said he had been made aware of allegations dating to the 1980s and 1990s, that he denied any illegal conduct, and that he stepped aside to prevent disruption to the club. Sullivan, whose fortune came from the pornography industry, rejects the claims and continues to attend matches.
On the pitch, the finances are under pressure. West Ham dropped out of the Premier League last season, a blow that cost the club millions in revenue. The team is playing in the second-tier Championship this season, where broadcast income is smaller, though three years of parachute payments help soften the blow.
A modest bump for Sullivan could still stir things. The independent Football Regulator has been examining for several weeks whether he is a fit person to keep such a large holding, and more shares may complicate that picture for the club and the watchdog. The bigger shift is that Kretinsky now sits in the primary seat while West Ham competes in a less lucrative division. If you watch businesses tied to matchday spending, local sponsorships, or broadcast-linked revenues, those two dynamics set the tone for the near term.
