{{primary_category}}
{{/primary_category}} 
David Gold and David Sullivan set to lose money after Kretinsky's West Ham investment
Simon Stone claims that David Gold and David Sullivan are set to lose millions of pounds after Daniel Kretinsky’s investment in West Ham was confirmed.
Writing on the BBC’s live blog before the Hammers played Manchester City in the Premier League, Stone claimed that Gold and Sullivan will now have to pay the landlords of the London Stadium.
He claims that financial penalties were inserted into the Hammers’ lease of the London Stadium if the club was sold before 2023 for over £300million.
Even though they haven’t officially sold the club yet, Gold and Sullivan still have to make payments of several million to E20, which is a blow for them.
Writing on the BBC Sport website, Stone said: “West Ham’s owners David Sullivan and David Gold will make seven-figure payments back to their landlords at the London Stadium as a result of Czech billionaire Daniel Kretinsky’s purchase of a 27% stake in the Premier League club.
“The concession agreement signed for the club to play at the taxpayer-funded London Stadium includes financial penalties if the club was sold before 2023 for more than £300m.
Subscribe to Football Insider TV now
“It is understood the deal involving Kretinsky values the club at around £700m.
“BBC Sport understands West Ham have submitted all the details of the Kretinsky transaction and as a result Sullivan and Gold will make a payment of ‘several’ million pounds to E20, who run the loss-making stadium.
“It was revealed in documents released on Companies House this week that the contract also contains a ‘put and call agreement’ that gives Kretinsky, through his 1890 holdings s.a holding company and his EP Investment Sarl investment company, an option to buy the Hammers for a set price should Sullivan and Gold decide to sell the remainder of their stake in the club.
“The option also exists for Sullivan and Gold to purchase Kretinsky’s shares.”
Sullivan and Gold hit in the pocket.
Now, given that the Irons are now valued at £700million, we can’t imagine that Sullivan and Gold will be too bothered about this latest news because they will make a lot more back when they sell the club.
Certainly, it seems as if this was a calculated risk, and they might have to pay a bit now, but they should make that back and then some in the near future.
Of course, Gold and Sullivan are unpopular with many Irons fans, and we can imagine that some will find this news very funny, but they have allowed outside investment that should lead to a much brighter future.
Yes, they are going to profit massively from the Irons, and they already have in many ways, but at least they seem to be on the way out.
Hopefully, they decide to sell the club for good soon, so the Hammers can look ahead to their bright new future both off and on the pitch.
In other West Ham news, David Moyes was furious with one Hammers man after City’s first goal.
Be sure to follow West Ham Zone on Facebook and Twitter for 24/7 updates on the Hammers and more exclusive interviews with Frank McAvennie.