Czech billionaire Kretinsky becomes largest shareholder at West Ham

Royal Mail owner Daniel Kretinsky is set to become the largest shareholder in West Ham with a 46% stake, as part of a deal that makes him the club's biggest investor. The Czech businessman reached an agreement with West Ham's remaining shareholders, including former chairman David Sullivan and the Gold family, over the 25% of the club owned by the Gold family.

This move effectively ends former Newcastle director Amanda Staveley's immediate plans to invest in the Championship club. Sullivan, who resigned as chairman in June, will see his stake in the club increase from 38.8% to 40%. Co-chair Vanessa Gold had previously agreed to sell a portion of her shares to Kretinsky following allegations against Sullivan, but later sold her entire stake to Staveley.

This triggered a pre-emption rights agreement at West Ham, giving existing directors first refusal on any significant share sale. A deal was reportedly triggered before the deadline, resulting in Kretinsky purchasing a significant portion of shares from Sullivan, taking his stake to 46%. The remaining shareholders hold 3%, while Tripp Smith will increase his ownership to 11%.

The deal effectively excludes Staveley from the process. West Ham's status under the independent regulator's owners, directors, and senior executives regime is under scrutiny, but the latest move is not expected to trigger further examination. Kretinsky, Gold, Sullivan, and West Ham have not commented on the situation.