Amanda Staveley’s attempts to buy into West Ham United appear to have stalled for the pure and simple reason that there are currently no shares in the club available for sale.
As Claret & Hugh reported last week, far too much was being made of the fact that Staveley and her husband, Mehrdad Ghodoussi, attended a Take That concert at the London Stadium following a tour of the facility a week earlier.
Tour Was Not A Board Meeting
As C&H reported at the time, Staveley was given a tour of the former Olympic venue by London Stadium staff rather than being met by a delegation representing Daniel Křetínský.
It was, however, understood that the former Newcastle United executive was interested in buying into the club by acquiring shares, most notably those owned by David Sullivan.
Unfortunately, it now appears those shares are simply not available.
Sullivan is understood to have no intention of relinquishing his shareholding unless a pre-agreed Premier League buyout valuation with Daniel Křetínský is met.
That valuation places the club at more than £650 million, a figure which understandably is unlikely to attract buyers.
No Shares Available
With Křetínský already committed to acquiring part of the Gold family estate’s shareholding, and potentially increasing his own percentage further through a rights issue, there is currently very little room for any outside investor.
A well-placed source told Claret & Hugh this morning when asked whether the Staveley deal had stalled:
“Absolutely correct, there’s nowhere to buy the shares from. Sullivan isn’t selling so there’s nowhere to get them from so… nope, it will stay as it is.”
West Ham’s Ownership Picture
It has become increasingly clear that there are no shares currently available for purchase.
The expectation remains that the club will operate broadly as first proposed, with Daniel Křetínský becoming the largest shareholder at just over 42%.
There is also an agreement in place whereby other shareholders, including Vanessa Gold, Albert Tripp-Smith and former chairman Terence Brown, are expected to vote alongside the Czech billionaire.
That would leave David Sullivan retaining the second-largest individual shareholding in West Ham, but without an executive position he would no longer influence the club’s day-to-day decision-making.
Both Sullivan and his sons, Jack and David Jr., have already stepped away from operational roles at the club.
For now, it appears the family intend to retain their shares unless someone is prepared to meet a valuation based upon Premier League status or Sullivan changes his mind.
It would seen unlikely that Sullivan will be convicted aand/or disqualified due to lack of hard evidence. As usual he seems to be doing what he thinks is best for Sullivan. He probably hopes for a rapid return to the PL and his shares gain value. As things stand he can’t make unilateral decisions for the club and we should be mightily thankful for that.
No shares to sell? The Gold family will sell their remaining shares if the price is right. The proposed sale to Kretinsky is to take some of the risk off the table and get some cash. But they’ll sell if the price is right. As for Sullivan he’s an aging man. Whatever helps his estate planning, eases the burden of tax on his death, will be a big factor.
Hi Dudley , I almost agree entirely . My post was about the hope Sullivan will sell to DK rather than the shares are not available . So I think your spot in to say DS will sell at the right price . Thats his price rather than the actual valuation off a club in the championship . I want DK to have full control , seems like he’s stuck to his promises so far . I’m sure he will have more ambition for us than DS ever had , who in reality used us as a cash cow . C… . . What do you think fella , I’m a fan for 58 of my 61 years ⚒
Sullivan is like a floating turd that just won’t flush away, hopefully Police charges will soon follow and this sex pest goes back inside, again
Sullivan needs to step away IMO he has disgraced us . Not sure Staveley is the right person I’m happy with DK he stood by his words and didn’t back down in Fernandes valuation . Hope he can buy a percentage from Sullivan and show more ambition than Sullivan ever did . Get rid
There is an even simpler reason that Staveley hasn’t bought into West Ham and that she is simply not rich enough (last estimate £100m – £110m). Her small holding in Newcastle was funded by another of the shareholders.
Sullivan looks like a long drawn out problem … as most posts are aware every thing rests on whether or not he is found guilty ..our best chance would be if he is found guilty and Premier League or FA had the power to decide he was not a fit and proper person to be involved in football….and then Wow …. A time limit to sell his share to the highest bidder…..
I think it unlikely that Kretinsky will launch a share issue if it’s true that he has invested another 100m in the club. Perhaps Staveley is interested in buying the stadium?
Hi gonzo, what a pity that this individual won’t take a huge return on his original investment and walk away from the club, he must realise how disliked he is by many of his “customers” and he must be aware of the positivity felt that he is no longer involved in day to day activities. I guess there’s a possibility the football regulator could step in and sue the powers they have, if this doesn’t happen I fear we will once again be held back by mr Sullivan as he can veto any rights issues I think. Cheers
What happens if Sullivan is (in the future) found guilty and convicted?
Sean will be meddling away behind this report, I suspect
What happens to Sullivans shares if he is (in the future) found guilty and convicted?