Křetínský weighs £150m response as Staveley targets West Ham
Amanda Staveley’s £150m agreement to acquire 25.1% of West Ham has triggered a shareholder dispute after Daniel Křetínský warned that he could use his pre-emption rights to block the transaction.
Daniel Křetínský is considering a challenge to Amanda Staveley’s proposed £150m investment in West Ham after her consortium agreed to acquire the Gold family’s entire 25.1% shareholding.The offer values the Championship club at about £600m and supersedes an agreement reached in June that would have increased Křetínský’s stake from 27% to approximately 43%.A spokesperson for Křetínský said: “The agreement we had reached with the Gold family in June provided stability for the club at a crucial time. Today’s announcement does the opposite.”The spokesperson said Křetínský’s investment vehicle would examine every available option, including exercising its pre-emption rights in full.Those rights give West Ham’s existing shareholders the opportunity to purchase the Gold family shares on the terms agreed with Staveley’s consortium before the external transaction can proceed.Matching the offer in full would require Křetínský to commit about £150m. The process is expected to take approximately two months, leaving the club’s ownership unchanged in the interim.Staveley’s consortium includes her husband Mehrdad Ghodoussi, PCP Capital Partners and Ashland Forest Capital Partners. Their offer covers all of the Gold family holding rather than the smaller portion previously negotiated with Křetínský.Vanessa Gold said: “On June 12, Daniel Křetínský and I agreed a sale that would have made EP Group the single largest shareholder in West Ham. Unfortunately, since that time, the original deal and other alternatives that we have discussed could not be brought to fruition.“In light of this, I have now reached an agreement to sell my family’s shareholding to a consortium led by Amanda Staveley, Mehrdad Ghodoussi and PCP Capital Partners.”David Sullivan remains West Ham’s largest shareholder with 38.8%, while Křetínský holds 27%. Completion of the Staveley transaction would give her group a substantial minority position but would not provide control of the club.The proposed valuation is significant following West Ham’s relegation from the Premier League, which has reduced their central media income and increased the importance of securing investment for an immediate promotion campaign.Staveley and Ghodoussi previously held a minority interest in Newcastle United and helped negotiate the club’s takeover by a consortium led by Saudi Arabia’s Public Investment Fund in 2021. They sold their remaining Newcastle shares in 2024.West Ham said their day-to-day management and preparations for the new season would not be affected during the pre-emption process.Křetínský must now decide whether to match the £150m terms, acquire part of the available holding or allow Staveley’s consortium to enter the ownership group.