Daniel Kretinsky is set to become West Ham’s largest shareholder, increasing his stake from 27% to 43%, as the club grapples with the fallout from allegations of sexually exploitative behaviour against David Sullivan. The Czech billionaire, who already owns Royal Mail, has agreed to buy a portion of shares from Vanessa Gold, inheritor of the 25% stake left by her father David Gold. The deal, subject to pre-emption rights and approvals, would make Kretinsky’s 1890 Holdings the dominant shareholder at the London Stadium.
Kretinsky and Gold issued a joint statement expressing they were “deeply concerned” by revelations from a joint BBC Panorama and Times investigation that accused Sullivan of abusing his power and preying on women for sex, with claims dating back to the 1980s and 1990s. “Our thoughts go out to those women who have fought so hard to make their voices heard,” they said. “Any abuse of power is abhorrent, and it takes great courage and determination to speak up against it.”
“Daniel Kretinsky becomes West Ham's largest shareholder after allegations against David Sullivan spark ownership shake-up.”
The board was only informed of the allegations about a month ago, they added, and only learned the full details when they became public on 8 June. Sullivan, 77, who “categorically” denies all claims, stepped down as co-chair and director last weekend but retains his 38.8% stake. West Ham had already banned him from contact with the women’s and youth teams since 2023 due to safeguarding concerns – a measure the board only discovered this week.
The club is in major financial difficulties after relegation from the Premier League last month for the first time since 2012. Kretinsky and Gold said their focus is “firmly on protecting the future of this football club” and that group EP will provide additional financing. The Independent Football Regulator could force Sullivan to sell his shares if it concludes he no longer meets standards of honesty and integrity. Tara Warren, a non-executive director on the IFR, has recused herself due to her past role as a senior director at West Ham.
Meanwhile, the club aims for an immediate return to the Premier League under manager Nuno Espírito Santo, with Kretinsky intending to inject capital for squad rebuilding. “We have agreed to vote jointly on key matters and to support the strategy targeting an immediate return to the Premier League,” the shareholders said.