Staveley reveals bid for controlling West Ham stake after ownership reshuffle

Amanda Staveley has confirmed that PCP Capital Partners originally offered to buy both David Sullivan’s 38.8% holding and Vanessa Gold’s 25.1% stake in West Ham United, a combination that would have given her consortium majority control of the club.PCP later reached an agreement with Gold to acquire her 25.1% stake, but West Ham’s shareholder agreement triggered a pre-emption process that allowed existing investors to buy the shares instead.PCP said: “We are obviously disappointed not to have been successful in our bid to acquire the 25% shareholding in West Ham United. For transparency, our original offer was for both David Sullivan’s 38.8% stake and Vanessa Gold’s 25.1% stake in the Club.“There was always the potential that the other shareholders would take up their rights under the shareholders’ agreement, which is what they have elected to do.”The process reshaped West Ham’s ownership structure, with Daniel Kretinsky increasing his stake from 27% to 46% and becoming the club’s largest shareholder.Sullivan increased his holding from 38.8% to 40%, leaving the pair with 86% between them and effectively closing the route Staveley had been pursuing to establish a controlling position.The disclosure that PCP initially targeted both the Sullivan and Gold holdings shows that Staveley’s plans were considerably larger than a minority investment.Acquiring the two stakes would have taken PCP above 60%, providing decisive influence over a club whose ownership structure, London Stadium position and long-term strategic direction have attracted significant investor interest.Staveley, who was part of the consortium behind Newcastle United’s 2021 takeover before selling her stake in 2024, has remained engaged with West Ham despite the setback.PCP said: “We will continue to follow this process closely. Our ambitions for the club remain, and we would be open to the opportunity to work constructively with the existing shareholders in the future subject to us not taking up other opportunities that have been presented to our consortium in the wake of recent events over the past week.”That leaves open the possibility of further negotiations with Kretinsky or Sullivan, although the latest shareholder changes have strengthened both investors’ positions.PCP is also considering other investment opportunities, meaning West Ham may have to compete with alternative sports assets if the ownership structure opens up again.