Gold family agree to sell West Ham stake to Staveley
Vanessa Gold confirms her family's plan to sell their West Ham United shares to Amanda Staveley's consortium, while Daniel Kretinsky reviews his pre-emption rights.
Stock photo for illustration only, not from the actual event
- Vanessa Gold confirms agreement to sell her family's stake in West Ham United.
- The buying consortium is led by former Newcastle executives Amanda Staveley and Mehrdad Ghodoussi.
- Major shareholder Daniel Kretinsky opposes the move and reviews options to exercise pre-emption rights.
Vanessa Gold, daughter of the late West Ham United co-owner David Gold, has confirmed that her family intends to sell their shares in the club to a consortium headed by former Newcastle co-owner Amanda Staveley. BBC Sport previously reported that Gold's family had been holding discussions with Staveley's consortium, which also includes her husband Mehrdad Ghodoussi, regarding a 25% stake in the Championship club.
In an official statement, Vanessa Gold announced that she has reached an agreement to transfer her family's shareholding to PCP Capital Partners, led by Amanda Staveley and Mehrdad Ghodoussi, in partnership with Ashland Forest Capital Partners. She added that while the process has not yet concluded, she wanted to remain transparent with fans regarding the current standing and her intentions.
David Gold, who passed away in 2023, served as joint chairman of the Hammers for 13 years alongside his long-time business partner David Sullivan. Sullivan remains the largest shareholder in the club, with Daniel Kretinsky holding the next highest stake. BBC Sport previously reported in June that a separate deal could have increased Kretinsky's stake from 27% to 43%, surpassing Sullivan's 38.8% share.
"The agreement we had reached with the Gold family in June provided stability for the club at a crucial time. Today's announcement does the opposite."
However, Vanessa Gold's sentiments were not shared by Daniel Kretinsky. A spokesperson for Kretinsky issued a statement responding to the imminent deal, stating that the agreement reached in June provided crucial stability, whereas the new announcement does the exact opposite. The spokesperson emphasized that they will always act in the best interests of West Ham United and are reviewing all available options, including exercising their pre-emption rights in full, which allow existing shareholders to purchase shares before they are offered externally.
Ownership transitions in professional football clubs often involve intricate legal frameworks, particularly concerning pre-emption rights designed to protect existing stakeholders from unexpected dilution. Amanda Staveley and Mehrdad Ghodoussi bring prominent executive experience following their involvement in the high-profile Saudi Public Investment Fund takeover of Newcastle United. This impending transaction introduces a fresh power dynamic that challenges the existing influence of major stakeholders like Daniel Kretinsky and David Sullivan, setting the stage for a potentially extended legal review process.
West Ham is scheduled to begin the new season with a Carabao Cup first-round tie at home against Portsmouth on Saturday, 8 August, followed by their opening Championship fixture at Burnley eight days later. Meanwhile, reporting indicates this ownership story may continue to develop as Daniel Kretinsky disputes the straightforward nature of the transition presented by Vanessa Gold.
Source: BBC Sport
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