David Sullivan is now open to selling his majority 38 per cent stake in West Ham United but it may not be a shoo-in that Daniel Kretinsky buys it with Amanda Staveley waiting to pounce.
The Hammers are in a major state of flux and standing at the crossroads of a new era after the departure of first Karren Brady and now David Sullivan.
In bombshell news on Saturday, West Ham announced Sullivan had resigned from the board before the man himself put out his own personal 494-word statement.
Sullivan confirmed he will not be returning to West Ham in the future, sparking fresh speculation a West Ham takeover is now in the offing.
Sullivan to sell West Ham stake but to whom?
West Ham then confirmed the new board structure with no place for Sullivan’s sons Jack and Dave.
Despite Sullivan’s resignation he remains the majority stakeholder at the club with a 38 per cent share.
How do you feel NOW about a full Daniel Kretinsky takeover? 💰
Sullivan out at all costs? Or has the Czech ship sailed?
Reports have claimed the club’s second biggest stakeholder, Daniel Kretinsky, will now buy Sullivan out.
Kretinsky’s exciting West Ham masterplan was leaked in the wake of Sullivan’s exit.
There has been claim and counterclaim about whether Sullivan could ultimately decide to hand his share down to his sons.
In a new development, sources claim Sullivan will now sell his West Ham stake – but don’t count out Amanda Staveley.
The Athletic claims a senior source with knowledge of the situation has told them Sullivan is now considering selling his 38.8 per cent stake.
Many assume it is a formality that Kretinsky will now step up and buy up some or all of Sullivan’s shares to become the majority owner.
Staveley and US backers still interested in West Ham bid
But Hammers News understands mega-rich financier Staveley – famed for her role in game-changing takeovers at Man City and Newcastle – is very much waiting to pounce.
Just two weeks ago Hammers News reported that Staveley remains interested in a West Ham takeover.
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Staveley has her own personal £500m war chest for a takeover following her sale of Newcastle to the Saudi PIF.
That followed reports in April that Staveley and a team of US backers were eyeing a bid for West Ham after being snubbed by Spurs in the wake of Daniel Levy’s departure last season.
At the time, Sullivan responded to Staveley’s interest in West Ham by insisting he was focused on ‘buying more shares, not selling’.
The landscape has clearly changed dramatically in the two months since with Sullivan gone and now open to selling up.
Kretinsky is undoubtedly in pole position and has first refusal on any West Ham shares.
But Staveley has wanted in at another club ever since leaving Newcastle and saw talks with Spurs come to nothing earlier this season.
Staveley’s consortium of wealthy US backers are said to prefer a London club and there have been claims they are not put off by the club’s relegation to the Championship, which is seen as a short-term issue.
Especially given takeover deals can take as long as nine months to complete.
It has even been claimed demotion has made a Staveley-led bid for the Hammers more likely as it would be cheaper.
Last month journalist Alan Nixon said Staveley and her backers are still interested and it would give Sullivan a decision to make on whether to cash in.
Now it appears Sullivan has made that decision, so a first move from Staveley’s group would not be a surprise in the near future.
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