Vanessa Gold at odds with David Sullivan and Daniel Kretinsky as West Ham United financial disagreement emerges
Vanessa Gold is at odds with fellow board members David Sullivan and Daniel Kretinsky over the valuation of West Ham, according to Matt Hughes.
The Daily Mail‘s chief sports reporter provided the update on the behind-the-scenes situation at London Stadium in the print edition of the newspaper on Friday [3 November, page 74].
Gold announced her intention to sell a significant portion of her family’s shares in the club in an official statement on Tuesday [31 October], and has enlisted a financial advisor to support the sale.
“Vanessa Gold’s valuation of West Ham appears to be significantly higher than that of her fellow board members David Sullivan and Daniel Kretinsky, which may explain why the joint-chair is making some of her shares available on the open market,” Hughes’ report read.
“Sullivan and Kretinsky have declined the chance to purchase a portion of the 25 per cent stake Gold inherited from her late father, David, which has led to the appointment of American bank Rothschild to seek an alternative buyer.
“Kretinsky is the club’s most recent investor, with the Czech paying around £200m for 27 per cent two years ago in a deal which valued the club at £650m, but Gold is understood to want a higher price.”
West Ham comes first
Gold stated earlier this week that she will prioritise what is best for West Ham when it comes to relinquishing her shares in the club given just what the club meant to her late father.
It is therefore imperative that the right buyer is found to join Kretinsky, Sullivan and Tripp Smith on the club’s board – ideally someone who also has a fair amount of money behind them.
The fact Gold believes the club is worth more now than it was two years ago is fair enough, although it is not known exactly how much more she believes it is worth – clearly too much for Kretinsky and Sullivan to consider an offer.
Had Vanessa Gold not had such strong links to West Ham through her family, this possibly had the potential to get slightly messy, but there is no risk of that being the case.
It does mean, however, that this process is now likely to drag on for a while as interested parties are sought on the open market.
In other West Ham news, a talkSPORT pundit suggested “financial reasons” were to explain for a controversial decision in the midweek win over Arsenal.