Exclusive: Sullivan Bought 13% Before West Ham Share Deal Blocked Staveley

By Kris Gonzo | Senior West Ham Columnist (Follow on X)

Claret & Hugh has discovered within the last few minutes how West Ham’s shareholders united behind Daniel Křetínský in a move designed to block Amanda Staveley’s attempt to buy into the club.

C&H understands that every West Ham shareholder took up their allocation during round one of the pre-emption process surrounding Vanessa Gold’s 25.1% stake.

That included David Sullivan, who initially purchased an additional 13% of shares.

However, what happened next explains how we have arrived at the reported ownership figures which would see Křetínský emerge with 46% of West Ham.

Shareholders United Behind Křetínský

Following the first round, C&H has been told there was an internal agreement involving the shareholders, including Terry Brown, Daniel Harris Tripp Smith and Sullivan, to sell a percentage of their newly acquired shares back to Křetínský.

The result was designed to take the Czech billionaire to approximately 46%, making him West Ham’s largest shareholder and keeping him in control of the football club.

Crucially, the arrangement also denied Staveley access to Vanessa Gold’s shares and scuppered PCP Capital Partners’ proposed route into West Ham.

Therefore, rather than Křetínský simply doing a deal with Sullivan, as had initially appeared to be the case, C&H understands this was an agreement involving the wider shareholder group.

It also explains the rather surprising news that Sullivan’s holding is expected to increase to 40%.

He actually increased his shareholding significantly more during the first round before subsequently selling some of those shares to Křetínský as part of the internal arrangement.

Staveley Route Blocked

The development brings some clarity to a process which has become increasingly difficult to follow.

C&H revealed last month that Křetínský had no intention of selling his West Ham stake and wished to maintain control of the football club.

What we didn’t know at the time was whether the other shareholders would ultimately align themselves behind him.

We now understand they have.

It also explains why the previously anticipated scenario of Křetínský simply exercising his own pre-emption rights did not materialise. Every shareholder participated before the subsequent redistribution of shares.

The move represents a significant setback for Staveley, who had agreed to purchase Vanessa Gold’s stake before the existing shareholders exercised their contractual rights.

One Route May Still Remain

The club are yet to make a formal statement, which C&H understands is currently in the hands of solicitors.

But as things stand, West Ham appears to be under the control of Daniel Křetínský, with the other shareholders having effectively backed his position.

That would appear to bring Staveley’s immediate plans for West Ham to an end.

However, it may not necessarily end her interest altogether.

Claret & Hugh previously revealed that Staveley was prepared to pursue David Sullivan’s shares if her route through Vanessa Gold was blocked, with discussions having already taken place.

Sullivan’s position could become particularly interesting given that the Independent Football Regulator has reportedly been in contact with police as part of its enquiries surrounding allegations concerning the former chairman.

So Staveley’s original attempt to enter West Ham through Vanessa Gold appears to have been comprehensively blocked.

Unless she can persuade the likes of Sullivan or Tripp Smith to sell, Daniel Křetínský has won this particular battle and is set to become West Ham’s largest shareholder.