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Daniel Kretinsky is now expected to speed up the process to complete a full takeover of West Ham following the death of the club’s co-owner David Gold, according to The Times.
Gold, 86, died on Wednesday (4 January) after a short illness and his share – 25 per cent – is expected to pass to his family.
Kretinsky bought 27 per cent of the shares for £150 million in 2021, but following the death of Gold, he has the chance to complete the full takeover for around £600 million.
Sullivan and Gold bought 86 per cent of West Ham for a total of £86 million, and their families will stand to make a £300 million return on their investments if the full takeover is completed.
More likely
Kretinsky, a billionaire from the Czech Republic, should be able to complete the full takeover once the windfall tax clause expires in March.
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Since Kretisnky has acquired shares at the club, we have seen major changes in the approach of the club.
The Hammers backed David Moyes in the summer transfer window with the club spending over £150m on new signings. It’s a completely different issue that the results have been very poor.
Moyes has done a terrific job at the club, and he deserved the time to turn it around. However, if the results do not improve in the next few games, he could be sacked.
The fans want to see the club run smoothly and regular investments being made in the squad.
After taking the club to a top-seven finish, the expectation levels have gone high. The club feel that they can compete against top sides and the signings show that they are indeed very ambitious.
Gold and Sullivan did a decent job, although they have loaned money to the club and taken on extra debt. It’s time for a new era under Kretinsky.