Two of West Ham United's major shareholders announced a share purchase agreement Saturday that will make Daniel Kretinsky the club's largest owner, with the deal coming days after serious allegations were made against co-owner David Sullivan.
Kretinsky and Vanessa Gold said they were deeply concerned following a joint BBC Panorama and Times investigation that published allegations of sexually exploitative and predatory behavior against Sullivan. Sullivan, 77, said he categorically denies the claims, which span the period when he built his fortune through pornography, newspapers, and football.
Under the terms announced Saturday, Kretinsky's stake in West Ham will rise from 27% to approximately 43%, exceeding Sullivan's current 38.8% share. The deal is subject to other shareholders' pre-emption rights and necessary approvals.
"Our thoughts go out to those women who have fought so hard to make their voices heard," said Kretinsky and Gold in a statement. "Any abuse of power is abhorrent, and it takes great courage and determination to speak up against it."
According to BBC Sport, Sullivan has been banned from having contact with the club's women's and youth teams for the last three years due to safeguarding concerns. Kretinsky and Gold said the full West Ham board was not told about the allegations against Sullivan until approximately a month ago, and did not learn the full details until they were made public on Monday.
"As communicated by West Ham, the Board representatives of shareholders other than David Sullivan were only made aware this week of the safeguarding measures that have been in place since 2023," they said.
Kretinsky, who first bought into West Ham in November 2021, and Gold, whose late father David was Sullivan's long-term business partner, said the deal has backing from fellow shareholders Tripp Smith, Daniel Harris, and Terry Brown. The purchase is being made through Kretinsky's company 1890 Holdings, which is part of the broader group EP.
"As shareholders and directors of West Ham, our focus is now firmly on protecting the future of this football club," said Kretinsky and Gold. "As the largest shareholder, group EP will be able to provide the additional financing the club needs."
The club is navigating the ownership situation while also preparing for a push back to the Premier League following its first relegation since 2012. Kretinsky and Gold said they expect to finalize the transaction within the next couple of weeks, after which group EP and the Gold family have agreed to vote together on club matters.
"We are taking these steps because West Ham needs to be truly united at this moment in its history," they said.
