Kretinsky raises his West Ham stake to 43% following Sullivan resignation
Czech businessman Daniel Kretinsky speaks at a conference in Prague, Czech Republic, October 17, 2023. REUTERS/David W Cerny
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
June 13 : Czech billionaire Daniel Kretinsky on Saturday increased his stake in West Ham United to around 43 per cent, becoming the club’s largest shareholder, following the resignation of co-chairman David Sullivan amid allegations of misconduct.
1890 Holdings, which is part of Kretinsky’s EP Group, raised its stake from 27 per cent, which it first acquired in November 2021, after striking a deal with West Ham’s joint-chair Vanessa Gold. The transaction is expected to be finalised in the next couple of weeks.
Sullivan resigned with immediate effect last week after the BBC, through its investigative documentary series BBC Panorama, and the Times newspaper published a joint investigation into his behaviour, accusing him “of sexually exploitative and predatory behaviour” towards women “going back decades”. Sullivan has denied the allegations.
Kretinsky and Gold said in a joint statement published by the club that they were “deeply concerned” by the revelations from the investigation done by the Times and Panorama. “The full West Ham United Board was not notified about these allegations against David Sullivan until approximately a month ago, when he informed us that certain allegations against him may be published,” the club said.
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
The ownership shake-up comes at a turbulent moment for the east London club, which was relegated from the Premier League on the final day of last season, and will play in the second-tier Championship for the first time since the 2011-12 season. West Ham has retained manager Nuno Espirito Santo despite the drop.
“Our goal is to stabilise West Ham United, retain as many of our key players as possible and, under the management of Nuno Espírito Santo, secure an immediate return to the Premier League”, the statement read.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
About The Author
