Kretinsky reduces stake in West Ham due to takeover plans
Daniel Kretinsky has sold part of his shares in West Ham United to fellow countryman Jakub Havrlant. With this move, Kretinsky increases his chances of taking a bigger stake in the club and complicates Amanda Staveley's investment plans. The sale is part of a complex power struggle surrounding the shareholding at the English club.
Kretinsky reduces stake in West Ham due to takeover plans
According to Bbc.
Background
Kretinsky, who has owned a significant stake in West Ham United since 2021, is involved in a complex power struggle that could determine the club's future. His recent actions indicate a strategic approach to increasing his influence within the Championship club, while at the same time seeking to thwart the plans of other investors such as Amanda Staveley.
Why this matters
The recent share sale by Daniel Kretinsky to Jakub Havrlant is a strategic move that could change the power dynamics within West Ham United. By reducing his stake, Kretinsky can now more easily acquire a majority stake without the obligations associated with a takeover bid. This not only affects the club, but also the plans of Amanda Staveley, who had her sights set on a large share package.
Key points
- Kretinsky reduces stake in West Ham due to takeover plans.
- Daniel Kretinsky has sold part of his shares in West Ham United to fellow countryman Jakub Havrlant.
- West Ham: Daniel Kretinsky sells stake to boost plans to take control - BBC Sport.
West Ham United is once again the scene of a remarkable share battle within the highest ranks of English football. Daniel Kretinsky, the club's co-chairman, has sold just over 2% of his stake in West Ham to Czech businessman Jakub Havrlant. With this smart move, Kretinsky can work on his plans to acquire a majority stake, without being immediately obliged to make a takeover bid for the remaining shares, as English regulations prescribe when the stake exceeds 50%.
The share sale has direct consequences for Amanda Staveley, the former co-owner of Newcastle United. Together with a consortium, she had set her sights on a large share package from the Gold family, co-owner of West Ham. On Saturday, Vanessa Gold, current co-chairman and daughter of former co-owner David Gold, confirmed her intention to sell her family stake to Staveley's consortium. But because of a clause that gives existing shareholders priority when purchasing shares, Kretinsky can use this to take over Gold's package himself or match Staveley's offer.
Kretinsky, who has owned more than a quarter of the club since 2021, previously saw a takeover attempt on the shares of the Gold family fail due to rumors and accusations within the club, including a BBC investigation into major shareholder David Sullivan. This issue makes the process surrounding the sale extra complex. David Sullivan, who is still a major shareholder with 38.8%, could in theory also subscribe to the shares of the Gold family, although it is not clear whether he is actually allowed to do so given the allegations that he denies.
The pre-emption rights associated with the sale mean that the entire procedure to transfer the family interest may take another two months.takes possession. During that period, there will be two rounds in which shareholders can exercise their rights. Kretinsky said in a statement that he is pleased with the arrival of Havrlant, who is seen as an experienced investor and innovator in the digital field. According to Kretinsky, his joining would only make the club stronger.
These developments illustrate the ongoing dynamics in modern football, where the interests of investors, directors and external consortia are closely aligned. For West Ham United, this means another period of uncertainty, but also potentially new direction on an administrative level, with the focus on who will ultimately take control of the London club.
What's happening now
With the sale to Havrlant, Kretinsky can now take over the Gold family's shares or match Staveley's offer, which could further impact the future of West Ham United. The coming weeks will be crucial as shareholders need to fine-tune their strategies in light of these developments. The outcome of this share battle could also have consequences for the club's ambitions in the Championship.
Frequently Asked Questions
Who is Daniel Kretinsky?
Daniel Kretinsky is the co-chairman of West Ham United and recently sold part of his shares in the club.
What is the reason for Kretinsky's share sale?
Kretinsky has sold his shares to pursue his plans for a majority stake in West Ham United without having to make an immediate takeover bid.
Who is Amanda Staveley and what is her role in the stock battle?
Amanda Staveley is the former co-owner of Newcastle United and is interested in a large share package from the Gold family, co-owners of West Ham.
What are the consequences of the share sale for the Gold family?
The share sale has consequences for the Gold family because Kretinsky can make use of a clause that gives existing shareholders priority when purchasing shares.
What is David Sullivan's interest in this situation?
David Sullivan is the major shareholder of West Ham United with 38.8% of the shares and could theoretically also subscribe to the shares of the Gold family.
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