By Kris Gonzo | Senior West Ham Columnist (Follow on X)
We now have a much clearer picture of how Amanda Staveley’s attempt to buy into West Ham was blocked — and it wasn’t simply a case of Daniel Křetínský buying more shares.
West Ham’s existing shareholders exercised their pre-emption rights over Vanessa Gold’s stake before subsequently redistributing shares amongst themselves in an arrangement designed to leave Křetínský as the club’s largest shareholder.
West Ham Shareholders Make Their Choice
The expected result is Křetínský with approximately 46%, David Sullivan around 40% and Tripp Smith on 11%.
Crucially, Staveley’s route into West Ham through the Gold family shares has been shut down.
In this video, I look at how the deal worked, why West Ham’s shareholders appear to have united behind Křetínský and why working with Sullivan was seemingly considered preferable to allowing Staveley into the football club.
I also discuss whether Staveley has one final route left if she remains determined to become a major West Ham shareholder.
The existing owners have made their choice.
I’m not convinced West Ham supporters will be celebrating it.
Why it’s what happens on the pitch that matters? That’s the bit I see, I didn’t purchase a season ticket to watch the boardroom?
Gonzo I think you maybe underestimating Sulivan and Staveley here. Sulivan has more shares to sell, bigger profits even if sells part of his shares to Staveley he will then have a bigger share in the club than he would have had. As for Staveley I can’t see her giving up that easily, she can see buying the stadium and some of the surrounding area would be huge potential and that’s why she is interested!
I am staggered that some people are so willing to jump on the Stavely bandwagon without any clue as to the history or integrity of the money men behind her.
Although, given the historic lack of intelligence behind some comments from apparent West Ham fans, perhaps I shouldn’t be surprised.
Yes I mean what did she ever do for Newcastle or Manchester City? Both in a terrible state compared to Wedt Ham aren’t they.
Agree with some other, you don’t know which owner is worst and you cannot say Amanda Stsvey led consortium is the hero owner.
On that basis I just don’t care as long as the club is funded and run properly. Good shareholders put people in the club to run it, bad shareholders try and micro manage
Both Staveley & Kretinsky are just business people looking at West Ham as a brand with potential investment growth ‘the same as Sullivan & Gold did & achieved when they bought us originally’. Us fans getting emotional over this this reality is a waste of chit chat, we just gotta hope to increase their investment they take us forward & upwards which could increase their investment hugely.
Unless Sullivan is charged and found guilty of an offence (very unlikely), the IFR could not decide against him being fit and proper, unless the ancient right of innocence until proved guilty no longer applies. All the owners know that, hence they keep him in the loop.
Yet, he’s a waste of space as a shareholder and has been for 16 years. Now approaching 80 and never investing any money into the club. What use is he to the club ? The same will be said of all the others. This powerplay could end up with exactly the same people involved in the club. The same people with a lack of ambition, not really wanting be outright owners. All just so they can get their hands on land money. Staveley’s mob, whilst still coveting the land would have brought far more drive, dynamism and ambition to the club than Kretinsky, Sullivan and the other crusties left hanging about. Quite why people want Kretinsky running the club is beyond me as he’s already proving he’s not going to invest when he promises. This whole affair could have been avoided had he bought the Gold shares when he said he would and as agreed, and then pumped in his own cash to stabilise club business over the summer. Yet he reneged on his agreement and had VG not made an agreement with AS i’m convinced we would still be sat here now wondering why he hasn’t pumped any money in to the club. If anything, the timing has played in to his hands and can blame it for not making his cash injection and the transfer business.
So any plans to reconfigure the stadium as proposed by Staveley have now gone. Kretinsky isn’t interested as he’s too engrossed in his other businesses and Sullivan certainly won’t be bothered. An opportunity has been missed so forget any ideas that we may one day have a ground fit for purpose. What a way to run a football club!
Jesus Gonzo, you sound like you’re just full of conspiracy theories? You need to calm down and get your head back in the game. This is big business. Staveley is interested in the realestate and making money. I am celebrating that Staveley didnt get her way, as her and Gold wrecked our transfer window for their own ends. So much for doing what was best for West Ham!
But wouldn’t have needed to happen had Kretinsky bought the Gold shares as agreed. So you think Kretinsky’s motives are any different to AS ? I think not. By Kretinsky dragging his feet, it is HE that messed up the transfer window.
DK is going to be GSB continuity, with no dynamism that the club sorely needs. We as supporters have just missed out on an exciting passage. Instead we’re left with a man with no ambition to really run the club and is there purely by default due to Death and Sullivans filthy past activities. Wow, can’t wait !!
Have you thought that that sales didn’t go through because Gold changed the terms of the deal and negotiations were ongoing while Staveley’s property developers made their offer?
There is nothing dynamic in exploiting the club to make money out of property speculation. They weren’t looking to buy the club to make it great again. Buying the club was just a means to an end to what they were really interested in. Gonzo needs to stop making this out to some dark conspiracy, it really isn’t and anyone with a real understanding will be happy a massive bullet has been dodged. As for Sullivan he will probably be made to undertake a forced sale at some point. If Staveley’s consortium truly want the club for footballing reasons they will beback in if it goes to open tender, but somehow I think they will be looking for the next property opportunity elsewhere.
Kretinsky didnt drag his feet, him buying the Gold shares still would have had to go through the same pre-emptive process so the time line doesnt add up. Its all spin put out by PR savvy Staveley to justify her deal with Gold without any backlash, especially considering that offer wrecked the transfer window plans and we had to start selling players to cover the debt and transfer budget without the Kretinsky £90 million being invested. DK couldnt buy the Gold shares once she had her head turned by Staveley’s offer and had agreed to accept it. Gold saw an opportunity to sell all of her shares instead of just a percentage of them. And that offer from Staveley meant the share price was a hell of a lot higher than the agreement she originally made with DK. So she accepted the offer to take the money. Meaning no matter who bought her shares, she would get top dollar for them. Kretinsky isnt about to invest £90 million to cover loses and fund a transfer window if he wasnt majority share holder. Sokd gold accepting the Staveley offer scuppered that as well.
Every owner of a club is in it to make money. That’s the purpose of it for both club & personnel gain. I’m glad Kretinsky is now the major shareholder after a disruption we didn’t need during the transfer window. I also thank him for persuading Jarrod Bowen to stay & help to try and get us promoted straight away. Let’s just hope it al works out for the best.⚒⚒
And now Josh Landers has gone to some club in Scotland. Gutted I thought the lad deserved a chance in the first team.
As I’ve been saying since June, Kretinsky is not to be trusted and is invested in our club solely to better his own financial interests. He cares not a hot about West Ham and is no better than Staveley. Wake up fans.
I think you need to wake up. Staveley is nothing more than the public face of a group of property speculators whose interests are purely on making money from building on the site and the club itself is a distant second. Thankfully, the the WHOLE BOARD united to prevent this from happening. It has no impact on what may happen to Sullivan’s stake once all the investigations into him are concluded.
Everything that happened in the Summer window was done to Gold and Staveley and our cash flow and debt needed to addressed by player sales while the pre-emption process was under way. Kretinsky was not allowed to inject more equity into the club while this was not finalised. He could issued a loan, but why would anyone do that while there was uncertainty over the club’s future ownership. This isn’t Championship Manager it’s a real club we are dealing with here.
I want them all out of my club including Kretinsky who is just in it for the money. I wanted Stavely in but now unfortunately it’s just sullivan and his mates again.
If the regulator decides Sullivan is not fit and proper, does he have to sell his shares and if so who will buy them now?
I personally did not want staveley anywhere near the club if that’s the case?
I wanted Stavely in. Sullivan and his old pals brigade out.
All that matters now is Staveley.s consortium has been sent packing!
The future of Sullivan’s holding is now down to the IFR once all investigations are concluded.