West Ham are top of the Championship. Three wins in a row, 60,000-plus average crowds at the London Stadium, and a Jarrod Bowen double at Bolton to seal a five-goal thriller on the road. On the surface, everything points to a club putting its recent misery firmly in the rear-view mirror. The honest answer, though, is: not quite yet.

The form is real, but so is the context

Three consecutive league victories is the Hammers' best run since December 2023. That previous sequence is worth remembering because of what followed it: a contract offered to David Moyes that went unsigned, the Scot's eventual departure, a steady decline, and relegation last May. Four good games can mask a great deal. West Ham's supporters know that better than most, and it would be premature to treat the current momentum as anything more than an encouraging start.

What is harder to dismiss is the atmosphere around the club. The 4,500 away fans who made the midweek journey to Bolton and stayed long after the final whistle are the same supporters who bought 50,000 season tickets for the club's first Championship campaign since 2011, partly because of tangible change at boardroom level. An average home attendance above 60,000 in the league is not something any second-tier club can take for granted, and it is giving Nuno's side a genuine advantage.

Structural change at the top

The off-pitch picture has shifted considerably since the summer, even if loose ends remain. Czech billionaire Daniel Kretinsky is now chairman, with an agreement in place that should see him become the club's largest shareholder on 46%, subject to that deal completing in the coming weeks. Karim Virani has taken over as chief executive and has, by all accounts, made a positive early impression: engaging openly with supporters on issues including the widely criticised badge redesign of 2016. Director of football Nils Koppen is reported to have genuine influence over recruitment, a notable change from a previous era in which transfer decisions were taken without adequate internal consultation.

Twelve players left in the summer, among them Crysencio Summerville and Mateus Fernandes. Nine arrived. The marquee signing was Arne Engels from Celtic for a reported EFL record fee of £22m. But the deal the club appear proudest of is Edvin Austbo, a 21-year-old Norwegian whose role in Viking's shock Eliteserien title win earned him his country's young player of the year award. West Ham tracked him for an extended period before moving, paying an initial £10m. That kind of patient, structured recruitment represents a genuine departure from previous practice, if it is maintained.

The uncertainty that refuses to disappear

David Sullivan resigned as chairman in June to contest allegations made in a joint BBC Panorama and Times investigation. Many supporters expected that to be the beginning of his full exit. Instead, Sullivan remains a shareholder and has attended every home game this season, as well as the away trip to Watford. Under the agreement announced on 3 September, he is set to hold 40% of the club once the process completes.

The situation is further complicated by Amanda Staveley. Her deal with former co-chair Vanessa Gold in July triggered a pre-emption rights process that ultimately expanded several existing stakes. In theory, a deal between Staveley, Sullivan, and Tripp Smith (who will hold 11%) could hand her a majority. That in turn would trigger further pre-emption rights. Sullivan is said to speak positively about Kretinsky in private and has expressed frustration that the ownership process overshadowed the transfer window. Whether that signals genuine alignment or merely a temporary truce is not yet clear.

For some fans, the caution is understandable. Sullivan's continued presence is a reminder that this restructuring is not as clean as the headlines suggest.

What matters on the pitch

West Ham top the Championship table as things stand. The division is long and unforgiving; a run of three wins in September tells you very little about where a club will be in April. What the Hammers have, which they lacked for stretches of recent years, is a settled dressing room, a manager who appears to have the players' trust, and a captain in Bowen who leads from the front in the most literal sense. The building blocks are there. Whether the ownership picture remains stable enough to let Nuno work without distraction is the question that will define this season more than any single result.

Frequently asked

Are West Ham top of the Championship?
Yes, West Ham went top of the Championship table after beating Bolton in their third consecutive league win of the season, with Jarrod Bowen scoring twice in a five-goal thriller.
Who owns West Ham now?
Daniel Kretinsky is now chairman and is set to become the largest shareholder with 46%, while David Sullivan remains involved with an expected 40% stake once a deal announced in September completes. Amanda Staveley's position adds further complexity to the ownership picture.
How much did West Ham pay for Arne Engels?
West Ham paid a reported EFL record fee of £22m to Celtic for Belgian international Arne Engels during the summer transfer window.