Hammers chief David Sullivan has confirmed his and Daniel Kretinsky’s position at West Ham following media reports about their shares.
David Sullivan has spoken to address and clarify speculation he could leave West Ham.
No sooner had Karren Brady left the Hammers than reports emerged that her last act was to oversee the sale of some of the Gold family shares to Daniel Kretinsky.
It was suggested the news was the first step to Czech billionaire Kretinsky becoming West Ham’s majority stakeholder having initially bought 27 per cent of the club for £150m in November 2021.
Sullivan confirms his West Ham share position with Kretinsky
Hammers fans have been protesting to have Brady and Sullivan removed all season.
With Brady gone it was seen as ‘one down, one to go’ in the eyes of those supporters.
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Many believed news that Kretinsky had moved to match Sullivan’s control of the club is a pre-cursor to the latter’s departure.
Although secretive Kretinsky hardly endeared himself to fans with bizarre claims following Brady’s West Ham exit.
Especially as it was the first time supporters have heard from the “Czech Sphinx” on club matters since Kretinsky confirmed he has no plans for full West Ham takeover in a rare TV interview in his homeland in the summer of 2024.
In that interview Kretinsky made it clear he might be interested in increasing his share and that is what he is now doing.
As a result, speculation has been rife that Sullivan is now preparing to sell up or stand down at West Ham.
Now Sullivan has confirmed his West Ham position with Kretinsky after the widespread claims.
Sullivan increasing West Ham stake and matched by Kretinsky
On the face of it, Sullivan looks set to stay as he confirmed he too is increasing his own stake by buying some of the Gold family shares.
“He (Kretinsky) is buying some of the Gold family shares and I am buying some,” Sullivan exclusively told Hammers News when asked to clarify the situation amid the rumours.
What legacy will Karren Brady leave behind at West Ham? 💭
Brady's favourite moment was the Conference League win 🏆
The Guardian claims 77-year-old Sullivan has faced increasing internal opposition on major club decisions in recent times.
Kretinsky is said to be matching Sullivan’s shareholding, which has increased to over 40 per cent of the club.
That will allow the business magnate to “exert greater influence” according to the report.
It is also pointed out that Sullivan’s sons, Dave and Jack, have positions of influence on the board.
And notably it has been confirmed in the past that Sullivan wants his sons to succeed him at West Ham.
But it is Kretinsky who is planning to have a big say on the structure of the Hammers moving forwards.
Brady was not the only high level West Ham executive to depart the club this week.
Chief finance officer, Andy Mollett, is also leaving at the end of the season and executive director Nathan Thompson has stepped down with immediate effect.
Kretinsky, whose camp have once again declined to comment, wants to be heavily involved in identifying recruits for the vacant roles.
Last month a top finance expert warned West Ham need new owners quickly after record failings.
But it seems Kretinsky and Sullivan are going to be in place for the foreseeable future.
One theory is that Sullivan is increasing his stake to make it more attractive and valuable when he comes to sell.
If someone new does come in, though, they face a mountain of problems which will only worsen if West Ham are relegated.
Because the club posted record £104m losses in their latest accounts and are expected to post losses of over £80m in their next filing.
In addition to that, West Ham owe £196m to other clubs in transfer fee instalments.
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