Daniel Kretinsky has agreed a deal that will hand him a 46% stake in West Ham, making the Czech businessman the Championship club's largest shareholder and effectively ending Amanda Staveley's hopes of investing in the east London side.

How the deal came together

The agreement centres on the 25% of the club previously held by the Gold family. Co-chair Vanessa Gold had initially agreed to sell her entire stake to Staveley, the former Newcastle United director. That sale, however, triggered a pre-emption rights clause, which gave existing shareholders first refusal on any significant share transaction.

According to the BBC report, that clause was activated before the relevant deadline, resulting in Kretinsky agreeing to purchase a significant portion of shares from David Sullivan, the former chairman who resigned in June. Sullivan's stake will ultimately rise from 38.8% to 40% under the arrangement, even as Kretinsky becomes the club's dominant shareholder.

A third major stakeholder, Tripp Smith, will increase his holding to 11%, with the remaining 3% distributed among smaller shareholders. Staveley is left with no route into the club under the current structure.

Sullivan's position and the regulator

Sullivan resigned as chairman following a joint BBC Panorama and Times investigation that made allegations against him, which he has said he intends to contest. The Independent Football Regulator confirmed that its inquiry into his suitability under the owners, directors and senior executives regime remains active and ongoing, and that relevant authorities have been kept informed.

The BBC report states that this latest share movement is not expected to trigger a separate examination by the regulator, though Sullivan's status at the club remains under scrutiny.

Royal Mail owner Kretinsky had already agreed to buy a portion of Gold's shares earlier in the summer, before the full-stake sale to Staveley was announced. That earlier agreement appears to have formed the foundation on which the pre-emption rights were exercised.

What it means for West Ham

West Ham find themselves in a period of significant off-pitch turbulence. The ownership dispute has coincided with a difficult start to the Championship season, with the club searching for the consistency needed to mount a challenge at the top of the second tier.

Clarity over who controls the club could yet prove important as the campaign develops. Kretinsky's move to 46% places him firmly in the driving seat, though neither he, Gold, Sullivan, nor the club itself had commented publicly at the time of the BBC report.

Staveley had been linked with bringing fresh investment and a new direction, so her exclusion leaves questions about what Kretinsky's majority influence will mean for the club's strategy both on and off the pitch in the months ahead.

The situation continues to evolve, and West Ham supporters will be watching closely for any formal statement from the club or its new largest shareholder.

Frequently asked

Who is West Ham's largest shareholder now?
Czech businessman Daniel Kretinsky has agreed a deal to take a 46% stake in West Ham, making him the club's largest shareholder ahead of David Sullivan, who will hold around 40%.
Why has Amanda Staveley been shut out of West Ham?
When Vanessa Gold announced she would sell her entire stake to Staveley, existing shareholders triggered a pre-emption rights clause giving them first refusal. That clause was exercised before the deadline, allowing Kretinsky to buy the shares instead and leaving Staveley with no route into the club.
Is David Sullivan still involved at West Ham?
Sullivan resigned as chairman in June following public allegations he denies, but he retains a shareholding that will rise to around 40% under the new arrangement. The Independent Football Regulator's inquiry into his suitability remains active and ongoing.