Daniel Kretinsky fights back at West Ham - How he could take full control above Amanda Staveley
West Ham United's ownership battle is set for plenty of twists with Daniel Kretinsky starting to fight back.
English businesswoman Amanda Staveley had agreed to purchase the full 25.1 per cent stake from the Gold family in a deal worth £150million.
However, shareholders at West Ham have the right of first refusal, so while all has been agreed, it has yet to go through.
Staveley's entry into the Irons looks to have hit a snag with Kretinksy making moves to potentially block the deal.
The Czech businessman fully taking over at West Ham has long been mooted, but it does appear that could be more likely now.
As Kretinsky is beginning to position himself above Staveley in the battle.
Why Daniel Kretinsky is in driving seat to take control of West Ham
Despite the agreement with the Gold family, Kretinsky is in the driving seat above Staveley to gain control of the Hammers.
According to The Times, the Czech businessman has actually reduced his stake from 27 per cent to 25 to position himself to buy the Gold family's shares.
That is because under a clause agreed in 2021, should Kretinsky move above 50 per cent stake in West Ham, he would be forced to purchase Sullivan's shares at an inflated price.
The two per cent stake has been sold to Jakub Havrlant, a Czech entrepreneur and investor.
If Kretinsky's move manages to work, that 50 per cent stake would put him in control of West Ham.
He also believes that due to the allegations surrounding majority owner Sullivan, he would be blocked from increasing his share.
Staveley has also tried to sound out a deal for Sullivan's shares amid her interest in taking over West Ham.
How will West Ham bidding work?
With Kretinsky looking to block Staveley from taking the Gold family's stake, there is a bidding process that must take place.
The first is that shareholders will have the right to purchase their entitlement, which would be the same proportion of their current holding.
That means Kretinsky would only be able to buy 25 per cent of the 25.1 per cent on offer - roughly 6.275 per cent of the club.
Then, the following round would leave any remaining shares up for grabs for any party that competed in the first round of bidding.
The report by the Times suggests that Kretinsky could use American billionaire Albert Tripp Smith, who owns eight per cent in his plan, who could also purchase shares.
Kretinsky hopes to take all of the Gold family's stake in the bidding process.
