West Ham’s ownership landscape has once again hit the news wires this week, and it is Amanda Staveley lighting the fuse. Her offer to buy 25.1% of the club, has effectively directly blocked Daniel Křetínský’s long‑planned rise to near‑majority control.
According to reports, Staveley has tabled a £140–£150 million offer for the 25.1% Gold family stake, held by Vanessa Gold.
16% of those shares were supposed to be heading to Daniel Křetínský, who had already agreed terms to lift his holding from 27% to roughly 43%, making him the single largest shareholder.
Staveley’s higher, all‑cash bid has seemingly stopped that deal dead in its tracks.
The consortium is essentially a reboot of the group that fronted the Newcastle United takeover minus the Saudi PIF. Amanda Staveley, Mehrdad Ghodoussi, PCP Capital Partners and additional international investors. While not officially named on the formal bid the Reuben brothers (RB Sports and Media) have been heavily linked to the group.
The whiff of a takeover is in the air
Interestingly if they were involved, given their minority stake in Newcastle United, Premier League and English Football League rules explicitly state that no person or entity can have a material influence over the management or administration of more than one English club. To avoid any conflict of interest their investment would have to be purely passive. Jamie Reuben sits on the Newcastle United board and as a consequence would not be allowed to take a director or administrative role at West Ham United.
There is also likely to be Private Equity involvement with financial media suggesting major institutional backing from the US and Far East.
Why Křetínský Never Bought Sullivan’s Shares: This is the part most supporters don’t realise. He did have an option to buy Sullivan’s shares
Looks like things are not going according to Kretinsky’s original plan
When Křetínský arrived in 2021, he negotiated a call option giving him the right to buy a chunk of David Sullivan’s 38.8% stake at a pre‑agreed price. It was designed to allow him to become majority owner gradually, without a hostile takeover. He didn’t exercise it and the option expired.
A lot has happened this year with Sullivan stepping down, the clubs relegation and Křetínský pushing for influence, not full control. His focus was on acquiring Gold’s shares, not Sullivan’s. The option quietly expired, removing his discounted route to majority control.
How much did this cost him?
Staveley’s bid values West Ham at £560 – £600 million. That means Sullivan’s 38.8% stake is worth roughly £217–£233 million.
Křetínský’s option would have allowed him to buy a portion of that stake at a lower, pre‑agreed price, likely saving him tens of millions. By letting the option lapse, he lost a discounted path to majority ownership, leverage over future share sales and the ability to block rival bidders like Staveley. In short it cost him control.
Why Staveley’s Bid Has Blocked Křetínský
West Ham’s shareholder agreement includes pre‑emption rights meaning existing shareholders get first refusal on any shares being sold. Staveley’s higher bid triggered this mechanism. As such the Gold family must offer the shares to existing shareholders at the same price. Křetínský would need to match £140–£150 million to keep his planned deal alive. To date he hasn’t matched it. This is why insiders say Staveley has “halted Křetínský’s path to majority ownership.”
What Happens Next? The situation is described as “extremely fluid”
Possible outcomes:
• Staveley completes the 25% purchase and becomes a major force in the boardroom.
• Křetínský scrambles to match the offer at the last minute, pre-emption rights usually last between 30-60 days.
• Sullivan’s 38.8% stake becomes the next battleground and Staveley’s consortium is expected to target it.
One thing is certain, West Ham’s ownership picture is about to change again.
Too many scenarios to make a call.
That said, I was of the understanding DK can’t be a majority shareholder without dispensing with his Sparta (?) Prague shares. Is this correct Matt?
Sully won’t sell unless he gets EPL price and even then he may choose not to.
Just as I thought a period of certainty and stability was beginning to appear at West Ham we have more uncertainty and turmoil. When will I learn?!!!!
My understanding was that Křetínský never wanted to have majority ownership in the club and that Stavely was looking to put together a consortium to buy a team. Isn’t it possible that she’s worked all of this out with Křetínský in advance and that he’s part of that consortium? I mean, his financial profile fits in exactly with what she would be looking for in a consortium partner and it would explain why there was a sudden halt in his planned purchase of the Gold shares.
If Newcastle are what is going happen to West Ham I’m not sure this is great news. There will be players moved out on what seems like a wim and the stability of the club may become a little more unstable. Time will tell.
Given Kretinsky’s unwillingness to invest personally, it would appear as though he isn’t the long-term answer to our ownership woes. And neither does he want to be. So despite NUFC’s current difficulties, I’m prepared to give anyone a crack at it, including Staveley and her partners! After all, can it really be any worse than Sully’s circus or Kretinsky’s inability to spend a penny? At least Staveley will likely give us a year or two of squad investment before her partners demand a return on their investment and we fall off the cliff edge like NUFC!
DK has only really seen us as a good investment opportunity but he failed to factor in how bad at running a football club DS was and so he has found himself in this position…i do not think he would be worried if he did not get the shares as i am sure he would happily drop back into the shadows and let better people with a track record in football run the club and his investment will grow.
Unfortunately, no one bidding for the shares sets that criteria. If Staveley’s consortium takes contract then I fear for the club’s survival.
While the boardroom becomes the battleground, once again the squad building takes a back seat and the best supporters in this country, bar none are left frustrated while the rest of the football community laughs at our inability to run a football club competently
Can’t we just get Rebecca from Richmond to buy us out, she did a great job in Ted Lasso ? 😊⚒️⚒️
Remember who the baddy team were in that story though……West Ham 😂