Daniel Kretinsky is weighing up a crucial move to block Amanda Staveley’s proposed takeover of a 25.1% stake in West Ham United, according to The Times.
Kretinsky is considering whether to activate his pre-emptive shareholder rights as the battle for boardroom influence in East London escalates.
Vanessa Gold, representing the family trust of the late David Gold, recently confirmed an agreement to sell her family’s entire shareholding to a consortium led by Staveley, Mehrdad Ghodoussi, and PCP Capital Partners, backed by US investment firm Ashland Forest Capital Partners, in a deal worth £150 million.
This development follows the collapse of a prior deal agreed on June 12 between the Gold family and Kretinsky’s EP Group.
Under that arrangement, Kretinsky was set to purchase a 16% portion of Gold’s shares, which would have increased his stake from 27% to 43%, making him West Ham’s largest shareholder.
However, after structural and legal negotiations failed to bring the deal to fruition, Gold pivoted to accept the Staveley-led consortium’s offer for the full 25.1% holding.
Under West Ham’s governance rules, existing shareholders retain first refusal on equity transfers through an official pre-emption process.
Kretinsky is currently weighing his options with advisers to determine whether to match Staveley’s £150 million valuation, but first, he would need to reduce his original shares a bit, which would enable him to buy the Gold family’s full stake without surpassing 50%.
As a result, Kretinsky has agreed to sell more than 2% to Jakub Havrlant, a Czech entrepreneur and investor
Exercising these pre-emptive rights would block Staveley’s entry into the club while consolidating Kretinsky’s role as the primary decision-maker, following a summer marked by relegation from the Premier League and the resignation of former joint-chairman David Sullivan.
Should Kretinsky decide to trigger his rights and buy out the Gold family in full, his combined stake would give him majority control ahead of Sullivan (38.8%).
Alternatively, if Kretinsky refrains from intervening, Staveley and her partners will establish a commanding presence in East London as they look to guide West Ham’s campaign for immediate Premier League promotion.
Direct deliberations between all parties are expected to reach a conclusion in the coming days as the pre-emption window closes.