West Ham United: Daniel Kretinsky takeover put on hold amidst relegation fears
The Times journalist Martyn Ziegler has shared that Czech Billionaire Daniel Kretinsky has put the full takeover of West Ham United on hold until Premier League safety is secured.
Ziegler confesses that Kretinsky is not expected to make any immediate moves to fully takeover the London club despite a windfall tax clause expiring next week.
The intriguing 2013 clause was made by West Ham United owners David Sullivan and the late David Gold in which the duo were liable to pay a windfall tax on any profits made to the London taxpayer if they sold the club within 10 years.
“No big Czech for West Ham,” said Ziegler as quoted by The Times. (3 March)
“The West Ham United shareholder, Daniel Kretinsky, is not expected to make any immediate move for a full takeover of the club despite a windfall tax clause expiring next week.
“The Czech billionaire, who owns 27 per cent of the club, wants to wait until their Premier League status is confirmed before making a decision.
“The 2013 clause made West Ham’s owners, David Sullivan and the late David Gold, liable to pay a windfall tax on any profits to taxpayers in London if they sold the club in the subsequent ten years.”
Worrying.
This isn’t the kind of news Hammers want to be hearing on a Friday evening and it seems like Kretinsky is currently keeping the club at an arm’s length.
Like most owners in the modern game, it seems Kretinsky has taken the same approach to treat West Ham United like a business rather than a beloved football club.
Nevertheless, if relegation is halting his full takeover that much, it makes the pressure currently on David Moyes’ shoulders even bigger.
For now, Kretinsky’s minority stake in the Hammers will remain for the foreseeable and any fans hoping for some lavish cash to splash in the transfer window may have to wait a little while longer.
This full takeover story will likely have a fair few more twists and turns as the season progresses, so the Irons faithful will have to keep a close eye on this one.
Brighton are up next in the Premier League for West Ham United and after this news, nothing less than three points is needed from Moyes and co.