David Sullivan has responded to claims he is ready to sell his 38.8 per cent stake in West Ham after resigning over the summer.
- HAMMERS NEWS EXCLUSIVE
It is now seven weeks since West Ham announced majority owner David Sullivan had resigned from the board with immediate effect.
Sullivan remained the club’s biggest stakeholder with a 38.8 per cent share.
But soon after his Czech billionaire co-owner Daniel Kretinsky announced he had started the process to increase his 27 per cent holding by 16 per cent to 43 per cent, which will make him the club’s new majority owner.
Sullivan on whether and when he will sell up at West Ham
Karren Brady had already jumped ship before Sullivan resigned, leading to a complete restructure of the board and day-to-day operations at West Ham.
That has seen a wave of optimism wash over the fanbase, highlighted by the fact the club has sold 50,000 – and counting – season tickets despite relegation to the Championship.
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The process for Kretinsky to increase his stake is ongoing and expected to be ratified in the coming weeks as a matter of course.
Sullivan spoke exclusively to Hammers News about selling his West Ham stake back in June.
When pressed on whether he would be selling up, Sullivan responded ‘who knows’ and suggested he regretted resigning.
There has been radio silence from Sullivan since.
Yesterday it was claimed on Sky News that Sullivan is now open to selling his West Ham stake.
Hammers News put those claims to Sullivan who has exclusively revealed his true intentions and, for the first time, when he will consider selling up.
Sullivan: ‘Selling my West Ham stake needs a lot of thought’
“I have taken a back seat,” Sullivan exclusively told Hammers News.
“I love the club and I’ll be watching games as a supporter.
“I will probably sell when we are back in the Premier League, but it’s a big decision and needs a lot of thought.”
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Just the 50k season ticket renewals! Not bad for a relegated side…
Sullivan’s response comes after West Ham’s Fan Advisory Board issued a statement in response to questions from supporters regarding the continued involvement of the Sullivan family in club affairs.
The FAB raised the matter directly with the club and stated that they welcomed an open and constructive discussion last week.
“The current position, as explained to us, is as follows: David Sullivan remains the Club’s largest individual shareholder with approximately 38% of the shares,” the FAB statement reads.
“However, following his resignation as a Director, he no longer has responsibility for the day-to-day running of the Club. Jack Sullivan and David Sullivan Jr remain Directors of the holding company. They continue to represent the Sullivan family’s shareholding but, as explained to the FAB, do not have executive responsibility for the day-to-day management of the Club.
“As previously announced, Daniel Křetínský is in the process of acquiring additional shares from the Gold family. Once that transaction is completed and receives the necessary approvals, and is expected to become the Club’s largest individual shareholder.
“Daniel Křetínský and Vanessa Gold have confirmed that they intend to act together on Board matters, giving them the effective controlling interest in the Club’s strategic direction. The FAB fully understands why many supporters remain concerned about any ongoing connection between the Sullivan family and West Ham United. Those feelings are entirely understandable, and indeed some FAB members have spoken publicly about only renewing their own season tickets after David Sullivan stepped down as a Director.”
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