NOT many people have £300 million sitting in their bank account waiting for the opportunity of acquiring shares in a now fallen ex-Premier League football club like West Ham.
However, current minority shareholder Daniel Kretinsky is a man with the expertise to leverage a deal to buy some, most or all of David Sullivan’s shares should he choose: After all, it was Kretinsky’s EP Group that pulled off the buyout of Royal Mail’s parent company in a £3.6 billion takeover deal.
So the numbers suggested by the NYTimes this morning as being the value of Sullivan’s shareholding will hold no fear for the Czech billionaire.
It is more a case of choice, rather than ability for Kretinsky.
In the last 24 hours it is evident that Sullivan’s family have no appetite to carry on the West Ham tradition and the shares are more than likely, according to the same report, available.
Sullivan’s sons have no interest in taking over their fathers role in running West Ham United.
This morning’s report by Roshane Thomas relays Daniel Kretinsky’s “interesting” comments, the intensely private businessman somewhat surprisingly interviewed for a Czech podcast following West Ham United’s relegation from the Premier League.
The West Ham shareholder made his thoughts pretty plain – even before David Sullivan’s surprise resignation.
“In West Ham, we’re a minority shareholder, we don’t control the club, but of course we are a part of the important conversations.
It kinda helps that you don’t have the ultimate responsibility so you don’t feel you messed up something for the fans. But I’ve found my stress limit here, too. We’ve made mistakes in the past that have cost us relegation.
“Definitely (I will stay on). It doesn’t matter if we’re in first or the second tier. That’s not a reason to abandon the club. A reason for that would be if we could not agree on a strategy with other shareholders, but not a relegation.
“Now that we’re down, I will try to find any possible way I can (to) contribute to West Ham’s return to the Premier League. We’ll see (if I will have a bigger share). But I see it as a duty getting us promoted.”
Prophetic words indeed as the Sullivan era draws to a close. From the manner in which Kretinsky has guided Sparta Prague through difficult times, the man is of course highly competent and hugely capable of installing a team who will act with solid professionalism. If he chooses to take the step up to increase his commitment in the ownership of shares.
As the Czech billionaire tantalisingly teased us all:
” We’ll see”.
All the latest news seems really good with sully quitting and his sons seem to have no interest in taking over his responsibilities so probably they will give up all or most of their share-holding.
Like many others on here I have been critical of DK not putting any money in and especially when we were in dire need of an injection of money to help trying to rectify some dreadful purchases over the years.
But I think people like me need to give the guy some breathing space as so much has happened over the last few days. I totally agree that he shouldn’t just give us money on a whim and maybe if he can get the right people in the right positions we ,as have a brighter future where we can get promoted and then not in a constant battle to stave off relegation as has been the case the last few years.
hmm, interesting. If you were him would you give David Sullivan your money to buy out his share holding or would you do a deal with the other shareholders to vote for issuing more shares to you so that your money got injected into the club instead.
This dilutes everyone else’s shares but I guess the value of those shares goes up proportionally and you get control, get to spend your money you invested.
I think he learned at Slavia that throwing money at a problem doesn’t fix it, so hopefully he can put a team in place like Abramovich did at Chelsea that can get the job done.
Sparta 32, Slavia is the equivalent of Millwall to him
Reassuring comments thats for sure !!!
Although I do think you guys sometimes talk like this £300 million, or the £90 million you were suggesting he needed to invest in June, is just money that he’ll find down the back of his sofa 🙂
At last Professional owners. with a business plan.
Think this is the right time he has been waiting for. Everyone wants DS out, but in theory, his family can remain as shareholders who will watch their holdings increase in value under the tutelage of Kretinsky. Most of all K is not going to run the football club either, so professionals will be put in place, financial planning overseen as well as the long term development of the club. So current owners might stay put & wait.
Thinking ahead, I do not know what plans there are about the LS, or is that when everybody sells up and club is taken over by some Bradyesque consortium called “you want promises? We’ll make promises!!”.
Not sure what is the best way to protect WHU from future sale once the good times return. Equal ownership K & families or slight majority for K? Perhaps there is no absolute way, other than to trust certain owners, but we’ve all learnt not to.
All WHU needs is to be run sensibly by ‘football people’ (exWHUEmployee), that is ALL that is needed for the club over several seasons to become what we have all dreamed of for such a long time. Attraction of being a London club, good Academy, great history, massive fan base completely nuts about football and passionate about the club rooted within its community. It’s all there.