By Kris Gonzo | Senior West Ham Columnist (Follow on X)
A report from Mail Sport suggests Daniel Křetínský is expected to inject a substantial amount of money into West Ham once he assumes de facto control of the club.
For me, that clears up one of the biggest questions supporters have been asking ever since David Sullivan stepped down as chairman.
After all, for someone with a reported £13 billion fortune, it was only natural for fans to wonder why there hadn’t yet been the sort of cash injection which had been hinted at following the change in leadership.
Waiting For Control Makes Sense
Looking at it from Křetínský’s perspective, though, I can completely understand the logic.
Why would you invest huge sums of your own money into a football club when you don’t yet have full control over how it’s is run?
There’s another consideration too.
Every positive step Křetínský takes inevitably increases the value of David Sullivan’s remaining shareholding. If the long-term objective is eventually to acquire those shares, it makes perfect sense to resolve the ownership position before significantly increasing the club’s value.
Evolution Rather Than Revolution
As Claret & Hugh has reported previously, the expectation has always been that Křetínský would play the long game rather than rush into wholesale changes.
This situation certainly has the look of gentle evolution rather than revolution.
West Ham weren’t going to recover overnight after years of poor decision-making at boardroom level. Rebuilding the football club properly was always likely to take time.
What matters now is that there appears to be a clear plan even if our lack of immediate transfer activity can look frustrating.
If the latest report proves accurate and Křetínský is preparing to invest once the ownership situation is resolved, I think that’s an encouraging sign.
As supporters, all we can really hope is that this period of rebuilding leaves West Ham in a far stronger position than the one the new regime inherited.
Gonzo all I’m concerned about is Sulivan digging his heels in and not selling. He doesn’t seem to care how hated he is or about the club if you ask me, so I could see this happening.
Well said Gonzo.
Patience is the name of the game from all of us nowadays.
The club has been put through the ringer ever since the Icelandic fiasco.
Two entire decades of fisical mismanagement.
It’s going to take a long while to right those wrongs.
Our club has enormous potential for so much more growth.
I can’t think of many other fanbases that have been so downtrodden for so long that have been as steadfast as Hammers are.
Up the Hammers!
COYI
I thought that if a shareholder invested a considerable sum, it would then mean that the other shareholders had to match it or suffer a reduction in Share %. Surely a way to make Sullivan invest or have a smaller % of ownership. Cheaper way of negotiating with Sullican, who I suspect, still over values his shares
I still do not understand Kretinsky’s approach. Given his personal wealth why not negotiate with Sullivan to buy his shares ( presumably they would be worth less today than they were a year ago and less than they will be if we return to the premier league) Also why did he not buy the rest of the Gold shares. I am sure Vanessa would have happily sold them. I still have concerns about Kretinsky especially after reading about the recent changes in his personal life.
I would assume there is a pre-emption clause in the club’s articles of association or shareholders agreement which prohibits a shareholding selling some or all of their shares without offering them to the rest of the shareholders. If Gold sold her shares Kretinsky can’t buy any until the pre-emption period expires. He wouldn’t be able to buy them all until Sullivan opts out.
Same would apply to Sullivan’s shares if and when he sells them.
I think ithe issue is you need a willing seller and Sullivan isn’t willing.
That said, if Kretinsky becomes the largest shareholder and, via Gold’s support, controls the club why would he pay out tens of millions more?
The long term future does look far more promising Gonzo, but the nagging concern is that this is very dependant on an instant return to the prem, and with 3 weeks to go there are still no signs of any imminent arrivals. Very excited about opportunities for the young talent but many are unproven at this level and it would be a risk to have them as the only option should injuries occur. A couple of decent signings, particularly up front, would ease a few nerves.