Daniel Kretinsky Completes Purchase Of 27% Stake In West Ham

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Daniel Kretinsky, a Czech billionaire, has completed the purchase of a 27 percent stake in West Ham United for £180 million to £200 million, making him the club’s second-largest shareholder.

Kretinsky and his colleague Pavel Horsky, who owns Sparta Prague, have been named to the board of directors, joining joint-chairmen David Sullivan and David Gold, as well as vice-chair Karren Brady.

The deal has reduced Sullivan’s shareholding from 51.5 percent to 38.8 percent, Gold’s from 10% to 25.1 percent, and Tripp Smith’s from 2% to 8%, while other investors’ shareholding has decreased from 3.4 percent to 1.1 percent. Sources have refuted claims that the arrangement will inevitably result in Kretinsky buying out Sullivan and Gold shares.

“I am delighted this detailed process has now been successfully concluded,” he said. “I am passionate about football. I greatly appreciate and respect the exceptional history and tradition of West Ham United as well as its loyal and passionate supporter base and also the highly inspiring role it plays in many social programmes and initiatives.”

source : guardian sport

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