A consortium fronted by Amanda Staveley, who led the Saudi takeover of Newcastle United, has agreed a £150million deal to buy the 25.1 per cent stake in West Ham United held by the family of the late David Gold.
The move is being viewed as a first step towards Staveley's group taking total control of the club. But current co-owner, Czech billionaire Daniel Kretinsky, has moved to block the approach.
According to The Times, Kretinsky is reducing his holding from 27 per cent to below 25 per cent. Existing shareholders have first refusal on the Gold stake, and by lowering his stake first, Kretinsky could buy it without surpassing 50 per cent ownership, which would otherwise force him to buy David Sullivan's 38.8 per cent stake at what has been deemed an inflated price.
Daily Mail Sport understands that Kretinsky's attempted move at West Ham, who were relegated to the Championship last season, may trigger a legal challenge. There is a view that his planned sale, to fellow Czech businessman Jakub Havrlant, could violate rules set out in West Ham's articles of association and, as such, be unlawful.
Staveley's wider ambitions
Representatives for Kretinsky have been approached for comment. Staveley's group, which includes investors from the United States, is thought to be aiming for a controlling share of the club that would include Sullivan's stake. The offer has valued West Ham at £600million.
Should Kretinsky succeed in his plan, he may then need the support of American billionaire Albert Tripp Smith, who owns eight per cent, to control voting within the London Stadium boardroom.
