£1bn West Ham takeover development emerges after Daniel Kretinsky ownership move

Daniel Kretinsky has made his move to take takover control at West Ham.

The Czech billionaire bought a 27 per cent stake in the Hammers in 2021, and wants to become the majority owner.

David Sullivan was forced to step down in June after historical accusations emerged, and he still owns 38.8 per cent of the Irons and the late David Gold's stake is up for sale.

Former Newcastle investor Amanda Staveley had been pursuing the late shares, which are 25.1 per cent, after Kretinsky's deal with the Gold family to purchase 16 per cent was not ratified.

The 53-year-old had agreed a £150million deal to purchase on 1 August, but the 51-year-old is keen to stop that from happening, and instead take them.

Current shareholders have a pre-emption rights clause, meaning that they can match Staveley's offer.

What is the latest on Daniel Kretinsky's takeover attempts at West Ham?

The battle for the stakes seems to be a complicated affair, but it appears that Kretinsky has the edge.

A report from Sky News' Mark Kleinman in his CityAM column on Thursday claims that the Royal Mail owner has pulled off a "crafty trick" with a new ploy.

It states that Kretinsky is keen to keep his stakeholding below the 50 per cent mark by selling a 2.2 per cent stake to Jakub Havrlant.

Going over that threshold would have had a knock-on effect, forcing him to buy out all the remaining shareholders for an expected £1billion valuation, whereas he could buy out Gold's shares for around £600m.

That is a figure that would be a record for a Championship club, and Kleinman reports that it may ultimately foil Staveley's attempts to return to the English game.

Why Kretinsky is the right man for West Ham

The key for the Hammers must be stability, and Kretinsky would represent that.

They have already managed to keep key assets like Jarrod Bowen and Taty Castellanos for the upcoming Championship campaign, now they must keep things ticking over as usual in the boardroom.

The Czech businessman expanding his shareholding is the best possible outcome, as it means there will not be too much change that could hamper Nuno Espirito Santo's side.

There are no concerns about the finances at his disposal, as he is worth approximately £7.3bn, according to Forbes earlier this year.