West Ham’s ownership conundrum takes another twist! Daniel Kretinsky this morning has announced that he has sold 2.2% of his stake to fellow Czech billionaire Jakub Havrlant, as he is set to buy the Gold family’s stake in full without surpassing the 50% rule, meaning he wouldn’t trigger the shareholders’ agreement clause, which was formed in 2021 and would’ve forced him to buy Sullivan’s 38.8% stake at an inflated price.
In doing this, Kretinsky has now gambled that he will be able to buy all of Gold’s family holdings without David Sullivan’s intervention, as he’s under the assumption that the Independent Football Regulator will step in and reject any increase Sullivan attempts to make.
Here we go, here’s where the difficulty starts!
Kretinsky’s sale of 2.2% will have to be offered to the existing shareholders due to pre-emptive rights, so David Sullivan, Vanessa Gold, Tripp Smith, Terry Brown and Daniel Harris would have first refusal in round one of the process. If no existing shareholder buys the 2.2% in 30 days of round one, there’s no round two, and that’s where Harvlant would be free to buy the 2.2% in question.
For the other chess game, which has Gold’s stake up for grabs - In a world where Daniel Kretinsky bought his maximum entitled amount (9%) and is the only shareholder to do this in round one, he would then technically be the only person available to purchase any stake in round two, which would offer the remaining stake (16.1%) up for grabs, meaning he would then take his total overall shareholding to 49.9%
The 49.9% means that he doesn’t trigger the inflated clause to buy David Sullivan’s shares but would still have majority control as he and his Czech friend would own 50.1% of West Ham together.
In this scenario, which is the most likely to happen, it would completely shut Amanda Staveley out from her Gold shares offer.
Buying David Sullivan’s shares is a dead end for her, as it wouldn’t be possible to gain a majority shareholding through Sullivan, and if she were to offer to buy Sullivan’s shares, which could theoretically launch the foundation of a possible hostile takeover for the club entierly, the offer she puts to Sullivan would allow Kretinsky to have matching rights, and the offer she would provide Sullivan would almost certainly be a lot less than the clause he would trigger by owning 50% of the club.
Kretinsky is officially playing Staveley at her own game, and with this Czech plan, it’s almost inevitable that Amanda Staveley will NOT be investing in West Ham.
Comments
blimey
what a palaver!!!!!
DK
Proving he is human and was humiliated by Staveleys bid so now he chooses to fart around so he still would not have to be the major shareholder which says it all...he is only here for the money and nothing else.....he has no ambition other than to continue growing his own wealth ...he dragged his feet he now has to pay more money than he had to because of that fact what a shame eh.
Kretinsky wont do anything
Kretinsky wont do anything for us,sounds to me like he is a messer,Staveley in!!!!!! Get this shower out.
Sullivan owes us big time. He
Sullivan owes us big time. He needs to redeem himself a bit and sell his shares to Stavely. Is he planning on taking his shares with him when he kicks the bucket.
he has an option to buy Golds shares
So DK wanting the lot is not nailed on and maybe Sullivan may well exercise that option then sell at Prem prices to Staveleys consortium and stick the knife in DK's back
Why don't the lot of em just
Why don't the lot of em just F OFF!!
Staveley is the best thing
Staveley is the best thing that could happen to us,shes no failure,she will bring us forward very quickly,shes ruthless these prats we have,are stuck in the mud,pissing about,Kretinsky has too many business interests elsewhere to be concerned of us,we cant afford to be played with,hes already watched us go down ffs,isnt that enough,clear the board,Terry Brown is still hanging on,and what has he ever done f all,just like Cearns lot before him,the mans like a bad smell that wont go,Sullivan is the same,Tripp Smith and the rest just treat us as somewhere to go on a Saturday afternoon.....Piss off the lot of them,there boring.
As always Essex... Spot on!
Those people that just but shares and add no value but take... all the way back to the Cearns!, give my arse a toothache... In the words of my father.
This is well worth a watch...
https://www.youtube.com/watch?v=7vnCUdIBBuQ
An interesting watch
Clearly knows what he is talking about.
Will someone please explain
How a club with no assets apart from some goalposts, a few footballs and some second rate, cut price footballers can be valued at £600 million ?
The shirt sponsors, TV rights, ticket sales don't cover yearly running costs and we don't (as I understand it) even own the training ground anymore. And I don't need reminding that we are no longer a Premier League club.
Its the old saying Deluded
It's worth only what someones willing to pay for it.
I can think of over 50K reasons DH
In our case its all about potential.
The fan base is "massive".
Had we got ourselves an Abramovic we would have been THE Biggest club in London. Our fan base was always bigger than Chavski and close to Spudz and Arse.
I have some faith in Staverley but latest reports are not good, looks unlikely that she will be successful in the bid to take ownership. Postman Pat's ego wont allow it... shame.
Can only think of one
And that is that maybe, just maybe, taking control of the OS means taking control of the whole Olympic Park. Prime development land.
bounce back bounce back
that's all i hear .selling our youth and not buying any one, we will not bounce back so recon we will be in the chumps for 2---3 seasons .as above reports say even our owners are fighting each other what chance does the team have