Daniel Kretinsky left exposed as West Ham co-owner’s firm and main source of income is put on watch list

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Daniel Kretinsky left exposed as West Ham co-owner’s firm and main source of income is put on a financial watch list.

Worrying Kretinsky claims emerged last week in light of the tragic scenes in Ukraine following the Russian invasion.

The conflict and dreadful footage coming out of West Ham star Andriy Yarmolenko’s homeland puts football – and life – seriously into perspective.

So it seems somewhat crass to be talking about money at a Premier League football club against such a tragic backdrop.

But unfortunately it has now been confirmed that the domino effect of Russia’s actions have had a direct negative impact on West Ham co-owner Kretinsky.

Yesterday, The Times confirmed that Czech billionaire Kretinsky has been left exposed after the West Ham co-owner’s firm was put on watch list.

The Times has confirmed speculation last week that Kretinsky risks taking a financial hit over his links with Russian state gas giant Gazprom.

Daniel Kretinsky left exposed as West Ham co-owner’s firm and main source of income is put on watch list

Kretinsky controls EP Infrastructure, which owns 49 per cent of Eustream, the company that operates the gas-transmission system piping Russian gas to central and eastern Europe.

“Ratings agency Fitch placed EP Infrastructure on its “Rating Watch Negative” due to its large stake in the Slovakian gas pipeline,” The Times reports.

“Fitch said Gazprom accounted for two-thirds of Eustream’s transported volumes.

“It estimates that Eustream represents about 40 per cent of EP Infrastructure’s underlying profits. Australian financial services giant Macquarie also has a minority stake in EP Infrastructure. The ratings agency said it put EP Infrastructure and Eustream on its negative watch because of “increased and rising risks to Gazprom’s willingness and ability to honour its obligations under its ‘ship or pay’ gas transit contracts with Eurstream”.

In a statement to The Times, Fitch said: “This follows tightening sanctions on Russia and its corporates, and Russia’s own restrictions since its military invasion of Ukraine last week, as well as Europe’s growing desire to reduce its energy imports from Russia.”

EP Infrastructure said last week that gas deliveries from Ukraine into Eurstream continue uninterrupted. A spokesman said the company and its shareholders condemned the Russian invasion.

Kretinsky became West Ham’s second majority stakeholder in November when he bought a 27 per cent stake in the Hammers from David Sullivan and David Gold for a reported £150m.

The money, according to West Ham themselves, was needed to help the club pay down debts and be able to continue to operate by directing funds to key areas.

But fans have started to question Kretinsky’s motivation and ambition after West Ham failed to make a single signing in January despite having a shallow squad and so much to play for in the second half of the season.

There is a massive summer rebuild looming large at West Ham for David Moyes.

The Hammers boss sent a clear message to Kretinsky and co at the weekend that he will need to make several signings in the next window.

So this financial blow to Kretinsky’s main source of income is very concerning indeed.

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BBC man makes dreaded Bowen claim after what he saw leaving Anfield.

Crushing new triple shock Declan Rice doubts claim made.