Insider responds to claims Daniel Kretinsky West Ham investment deal is in danger over rules

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Insider with close links to Hammers hierarchy responds to claims that Daniel Kretinsky West Ham investment deal is in danger over rules.

Czech billionaire Kretinsky is reported to be on the verge of buying a 27 per cent stake in upwardly mobile West Ham (Sky News).

The “Czech Sphinx” is worth in excess of £4 billion – four times the reported worth of Hammers co-owners David Sullivan and David Gold.

And Kretinsky – who owns Sparta Prague and has large stakes in Royal Mail and Sainsbury’s – also stands to potentially inherit and operate the £15 billion empire of his partner’s late father.

So the fact he is set to invest in West Ham is the source of serious excitement among Hammers fans.

Kretinsky was spotted in the crowd at the London Stadium watching West Ham’s famous 3-2 win over Liverpool.

But a report from website 90 Min put a dampener on things when it claimed there is an issue with the rules within West Ham’s agreement over their London Stadium lease which means Kretinsky’s West Ham investment deal needs Government approval.

The hold-up concerns West Ham’s renting of the London Stadium from E20 – a company set up by the London Legacy Development Corporation (LLDC) to manage the stadium following the conclusion of the 2012 Olympic Games.

When negotiating their move to London Stadium in March 2013, securing in the process a 99-year lease worth just £2.5m in rent annually, West Ham agreed to a ten-year clause which says Sullivan and David Gold – the club’s other majority shareholder – must pay a percentage to London’s taxpayers of any profit they make on a sale of 10% shareholding or more.

Were the duo to sell in full before March 2023 – the expiry date of said clause – around 20% would go to the taxpayer.

90 Min claim Kretinsky deal jeopardised by London Stadium lease rules

But insiders Claret and Hugh, who have close links to co-owners Sullivan and Gold, have denied the claims.

Insider responds to claims Daniel Kretinsky West Ham investment deal is in danger over rules

And C&H claims a deal should go through in the next week.

“A club insider speaking to ClaretandHugh this afternoon confirmed that (90 Min claim) is not case,” Claret and Hugh state.

“A deal is expected to go through in the next seven days after Kretinsky was spotted as a guest in the directors box on Sunday as West Ham beat Liverpool 3-2…

“The Czech billionaire is expected to pay around £150m for 27% of West Ham shares which will be achieved by issuing new shares which will dilute the current share ownership.”

That will be a huge relief for West Ham fans.

Hammers supporters are conditioned to think bad news is always just around the corner, especially when things are going well.

But thankfully that is not the case here.

More West Ham news:

Kretinsky plays it cool after being caught on camera in West Ham crowd.

Klueless Klassless Klopp undoes all his goodwill with West Ham moan up.

Sinclair says ref ignored new Prem rule for Liverpool goal vs West Ham.

Moyes gives it back with both barrels over West Ham fan attack.