A move by West Ham United co-chair Daniel Kretinsky to offload part of his stake in the club has thrown a potential spanner into Amanda Staveley's efforts to buy into the Premier League side.
Kretinsky, who has previously voiced opposition to Staveley's proposed involvement at the London Stadium, has sold just over 2% of his shareholding to Czech businessman Jakub Havrlant. The transaction, though modest in size, carries significant implications for the battle over who ultimately controls part of the club.
The development follows a weekend announcement from Vanessa Gold, West Ham's other co-chair and daughter of former co-owner David Gold, confirming that her family intended to sell its shares to a consortium fronted by Staveley, the ex-Newcastle United co-owner. That planned sale, however, is not straightforward. It remains subject to West Ham's pre-emption rights clause, a mechanism that gives existing shareholders the opportunity to match any outside offer before it can proceed.
Kretinsky, who acquired 27% of West Ham back in 2021, had already been trying to strike his own agreement with the Gold family, first announced in June. That deal stalled after allegations surfaced against David Sullivan, the club's majority shareholder, in a BBC Panorama investigation. Sullivan denies the allegations.
By trimming his own stake through the sale to Havrlant, Kretinsky positions himself to potentially acquire the Gold family's 25.1% shareholding without pushing his total ownership past the 50% threshold. Crossing that line would have obligated him to launch a formal takeover offer for the rest of the club—a scenario he appears keen to avoid for now.
Sullivan, who still holds a 38.8% stake, could theoretically also step in to bid for the Gold family's shares. However, it remains uncertain whether such a move would be permitted given the ongoing scrutiny surrounding the allegations against him.
The broader process to resolve the sale of the Gold family's stake is expected to stretch over roughly two months, as it involves two separate rounds under the pre-emption framework. That timeline leaves Staveley's ambitions to enter West Ham's ownership structure hanging in the balance, dependent on how existing shareholders choose to exercise their rights.
Speaking about the addition of his new business partner, Kretinsky welcomed Havrlant's arrival into the ownership group, describing the move as a boost for the club's future direction. "I am delighted Jakub Havrlant has joined the West Ham ownership group as a shareholder, subject to the pre-emption process," Kretinsky said. "He brings exceptional experience as an investor and digital innovator and I have no doubt his involvement will strengthen our club."
The reshuffling of shares underscores the increasingly complex ownership situation at West Ham, where multiple parties are jockeying for position amid uncertainty over Sullivan's future at the club. With the pre-emption process still unfolding, it remains unclear whether Staveley's consortium will ultimately be able to secure the stake it is targeting, or whether Kretinsky's latest maneuver will allow him to consolidate greater influence over the Hammers without triggering a full takeover requirement.
For now, all eyes will be on how the pre-emption rounds play out over the coming weeks, as stakeholders across the club's ownership structure weigh their next moves in what has become an increasingly intricate power struggle.
Based on reporting from BBC Sport.