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Czech Billionaire Daniel Kretinsky "Close" To Buying 27 Percent Stake In West Ham

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Czech Billionaire Daniel Kretinsky "Close" To Buying 27 Percent Stake In West Ham

Daniel Kretinsky, who already owns Czech club Sparta Prague, is in advanced talks to acquire a 27 percent stake in West Ham United, with a view to a possible full takeover in the future.

The billionaire also owns big stakes in Royal Mail and Sainsbury's, although he shows no signs of stopping there.

The Sky Sports report also cites financiers, who allege that the deal contains a framework within it that would allow Kretinsky to complete a full takeover of the East London club long-term.

While no timescale has been put on that, it does appear as if the initial minority stake is merely the businessman's first of many moves.

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As per the report, the ownership change could be announced as soon as the first week of November, possibly even ahead of West Ham's home fixture against Liverpool on the 7th.

Should Kretinksy proceed with his plan as expected, and assume full control of the Premier League side, it will effectively spell the end of the David Gold/David Sullivan era.

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The two boyhood West Ham supporters brought the club back in 2010 after selling Birmingham City a few years prior.

Under Gold and Sullivan, West Ham regained Premier League status after relegation, and have since built on that with a series of Europa League appearances.

Image Credit: PA
Image Credit: PA

Kretinksy made his wealth through various ventures involving energy, media, industry and retail, going on to become a significant investor in UK companies more recently.

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His acquisition of the Hammers would be just the latest ownership change of a Premier League club to have taken place over the past 12 months.

Two weeks ago, news broke of Newcastle United's sale, as Mike Ashley sold the club to the boundlessly wealthy Saudi Public Investment Fund.

Image Credit: PA
Image Credit: PA

While Kretinsky's wealth isn't anywhere near that of Newcastle or Manchester City's owners, he is a billionaire in his own right, and would surely be able to take the club to a whole new level in terms of financial muscle.

Topics: Premier League, West Ham United, Newcastle United

Tom Fenton
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