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 has been locked out of West Ham
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.
How can D S and the other shareholders sell to D K without going through another pre-emption process ?????
She doesn’t have such a clear route to becoming the major shareholder though…
She would have to buy out all the minority shareholders and Sullivan, which would seem unlikely or for DK to sell her his whole shareholding.
Would require a big offer, I suppose she could make an offer above price to Sullivan before the shares are redistributed which would force DK into buying at the same offer,at least temporarily DS is the majority shareholder.
Gutted that Staveley not getting shares. Woukd have been so good for our club. Now I feel we’ll be stuck in the championship buying two bit players for the rest of my life.
So Kretinsky has a bigger share at 46% than he would have done. Strikes me as a control freak. He wants control of the. Club. He’s realised Staveley plans would have increased West Ham’s value massively, buying the stadium , redeveloping it, new stadium, hotel, shops etc. he’s realised that and wants a slice of it himself. He’s bought at 600 million value when before he bought his 27 percent at 700 million value. So he’s buying in while the price is low. When West Ham increase in value massively which they will he’ll sell up and invest in something else. This is how the bloke has become a billionaire.
So all Staveley achieved in the end was to deprive us of a £90m transfer fund from Kretinsky. Thanks a bunch Amanda
If Sullivan initially bought 13%, that would have put him on 51%. Regardless of any agreement they may all have had, wouldn’t that mean he’d have to offer to buy everyone else’s shares?
If so, Staveley could make a Legal challenge?
So they’ve all done a deal with Sullivan if this is correct, they have nowhere to hide now. Time to protest at the lot of them
Wow what a surprise the day after the transfer window shuts it all get sorted DK get to keep his money in his pocket season ticket holders/supporters get mugged off again.
Plus the bonus, sullivan increases his shares.
Quite happy with this likely outcome as Staveley is fronting a consortium eying up a property play and we just provide a route to achieving this. Her involvement at Newcastle hasn’t really had any long term beneficial impact other than making her some money re sale.The fans just wanted rid of Mike Ashley. Her chequered history is more wheeler dealer if you do a bit of research.
At least Kretinsky understands football with his long term ownership ofSparta Prague. Perhaps stability beckons!