By Kris Gonzo | Senior West Ham Columnist (Follow on X)
Claims that Amanda Staveley has been defeated in her attempts to own West Ham have been labelled premature by an insider speaking to Claret & Hugh this morning.
Staveley appeared to have been locked out of her attempts to buy into the club following yesterday’s deal, which saw the existing shareholders take up their pre-emption rights and stop PCP Capital Partners’ deal to buy Vanessa Gold’s Hammers shareholding.
However, when we put it to a source close to Staveley last night that it was all over for her, we were told:
“I wouldn’t be so sure. There is still 54% of West Ham available. I doubt it’s over yet.”
So perhaps we shouldn’t be writing the Staveley West Ham obituary just yet but it doesn’t look good for her.
Kretinsky successfully blocked Vanessa Gold’s attempts to sell her shareholding to Staveley
54% Of West Ham Remains Outside Křetínský’s Hands
As C&H reported first last night, David Sullivan purchased all of his allocation during the pre-emption process, temporarily taking his shareholding to around 51%, before subsequently selling shares back to Daniel Křetínský.
The internal arrangement, which also involved Daniel Harris, Albert Tripp Smith and former chairman Terry Brown, was designed to ensure Křetínský emerged with approximately 46% and became West Ham’s largest shareholder.
Crucially, it also prevented Staveley from acquiring Vanessa Gold’s shares.
Our source was, of course, alluding to the remaining 54% of West Ham which Křetínský doesn’t own.
C&H has previously been told that Křetínský has no intention of selling his West Ham stake, while his ownership manoeuvrings have consistently pointed towards the Czech billionaire wanting to retain control without moving beyond the 50% threshold.
That potentially leaves Sullivan and Tripp Smith as the true kingmakers of what happens next at West Ham.
Staveley’s Sullivan Route Remains
Of course, it is difficult to imagine those shareholders immediately looking to do a deal with somebody they’ve just intentionally locked out of buying Vanessa Gold’s stake.
But we’ve been here before.
Claret & Hugh revealed last month that Staveley was prepared to pursue Sullivan’s shares if her route through the Gold family was blocked, with discussions having already taken place.
Sullivan is expected to emerge from the current transactions with approximately 40% of West Ham.
And while that initially caused considerable concern among supporters, C&H was subsequently informed that Sullivan will have no operational role and will not return to the West Ham board.
Whether he could ultimately be persuaded to sell that 40% is another matter entirely.
But judging by what we’ve been told by a source close to Staveley, PCP Capital Partners are not yet treating yesterday’s developments as the end of their West Ham ambitions.
Never a dull moment at West Ham, and I suspect this story has a few more twists and turns yet.
To me this is an opportunity
The current owners have decided they wamt to back Kretinsky, who has promised funds to support West Ham Football club
If any of the others sell to Staveley, which I am sure at least Sullivan has every intention of doing, Kretinsky will be able to bump his numbers up to 51% with his Czech pal.
All that is needed is am agreement between Kretinsky and Staveley….. an agreement where one of them (Kretinsky)runs and finances the football club, the other (Staveley) gets on with her Reuben pals and develops the site
The fans get a proper Football Stadium
Kretinsky gets to be able to finance our football club without any worries
Staveley gets on and makes her profits from a development (that Kretinsky and the other shareholders make some profit for doing notjibg)
….. and we all finally say good bye to Sullivan(can he take Nuno with him — sorry Saul, I had to get that in)
I just want all the previous owners out of our club now. They’ve had their time and they’ve failed miserably. Time for new owners with a vision and I think that’s Stavely
she doesn’t seem like a person who sticks around for long. too “smash and grab” for my liking. i think K has the better approach. more measured and long-term. i think i probably favour him because he’s everything i’m not! i haven’t got a brass razoo. sigh
Gonzo’s agenda is to have Stavely in. The big question he hasn’t answered is why? If he’s modelling his answer on what has happened at Newcastle, then, again why? She’s fly by night and no longer wearing black and white. If west ham want long term stability, she is not the answer: real estate, profit and move on to future projects is her mantra. Nothing wrong with that, but it leaves any potential club as just a vehicle for her pleasure. Kretinsky has 46%, Tripp Smith 11%. IFR will be divesting Sullivan of his 40% in the future after he is found guilty of improper conduct. Once that happens, Kretinsky can buy the rest without paying Sullivan’s ridiculous assertion that west ham are valued at 10m per 1%.
Mandy takeover is hypothetical. Reality is that she is finished with West Ham. We have refused to fly.
What’s happened to DK’s Czech mate ? Is he still in line to come on board? And if so would DK still be selling 2% to him or would the likes of DS, TS, etc be willing to relinquish 2.5 % each to give DK & his mate a combined 51% (46 + 5)
Stelios of West Ham Voice was trying to track down yesterday where a surposedly 1.8% seemed to be missing from the shares, the reply he got back was that DK’s mate had them, it appears the pre-emptive rights issue for those shares might have gone through at the same time without any takers, sort of leads me to believe they have had a plan for a while that if she tries to buy DS or TS shares his Czech mate is going to step in and buy enough to give them both majority control without DK having to exceed majority share holding.
Even if she does try to buy Sullivan’s shares, Křetinský still has pre-emption rights. As do Tripp Smith and Jakub Havrlant (DK’s mate). So really this is a total non-starter Gonzo.
Are you saying that Jakob Havrlant is a share holder? I haven’t seen mention of him on the list of shareholders!
Outside of Kretinsky why wouldn’t the others sell to Staveley and co? If the price is right……
If Kretinsky owned 48% and Havrlant 2.2%, between them they would have full control without triggering the need to purchase everyone else’s shares, no matter how much Staveley and her cohorts purchased. That would still mean Kretinsky wouldn’t have the full control he doesn’t want.
A real life game of chess being played out. Interesting…
Yes, it would appear that with 46% of the shares already in the bag (plus another 2% held by an ally), Křetinský can easily block Staveley from gaining control by buying a further 4% of Sullivan shares through the pre-emption rights without exceeding the 50% threshold.
I really don’t want someone in charge at our club who only wants to be halfway invested