Kretinsky and Gold Criticize Sullivan Amidst Allegations
Quick Look
- Daniel Kretinsky and Vanessa Gold have expressed concern over allegations against West Ham shareholder David Sullivan, stating the board was unaware until recently.
- Kretinsky's stake will increase, making him the largest shareholder, while Sullivan denies the claims.
AI-generated summary
Why It Matters
West Ham shareholders Daniel Kretinsky and Vanessa Gold have expressed concern over allegations of sexually exploitative and predatory behaviour against fellow shareholder David Sullivan. Kretinsky's stake is set to rise, making him the largest shareholder.
Two of West Ham's major shareholders have spoken out against David Sullivan after striking a deal that will see Daniel Kretinsky become the club's biggest shareholder.
Kretinsky and Vanessa Gold said they were "deeply concerned" after allegations of sexually exploitative and predatory behaviour were levelled against Sullivan by a joint BBC Panorama and Times investigation.
Kretinsky's stake in the club will rise from 27% to 43%, exceeding Sullivan's 38.8%.
"Our thoughts go out to those women who have fought so hard to make their voices heard," said Kretinsky and Gold in a statement.
"Any abuse of power is abhorrent, and it takes great courage and determination to speak up against it."
Sullivan, 77, said he "categorically" denies the claims, which span the period when he made a fortune from pornography, newspapers and football.
Kretinsky and Gold said the "full West Ham United Board was not notified about these allegations against Sullivan until approximately a month ago", but did not know the full details of the allegations until they were made public on Monday.
Sullivan has been banned from having contact with the club's women's and youth teams for the last three years because of safeguarding concerns.
Kretinsky and Gold said: "As communicated by West Ham, the Board representatives of shareholders other than David Sullivan were only made aware this week of the safeguarding measures that have been in place since 2023."
West Ham are dealing with the fall-out from the investigation at the same time as they are attempting to make an immediate return to the Premier League after being relegated for the first time since 2012.
"As shareholders and directors of West Ham, our focus is now firmly on protecting the future of this football club," said Kretinsky and Gold.
"As such, we have reached agreement on the key terms of a share purchase transaction between the Gold family and 1890 Holdings, which, subject to other shareholders' pre-emption rights and necessary approvals, would make 1890 Holdings (part of the broader group EP) the largest shareholder in West Ham with an approximately 43% stake.
"As the largest shareholder, group EP will be able to provide the additional financing the club needs."
What to Watch
AI outlook — possibilities, not facts
Further scrutiny of David Sullivan's conduct and West Ham's governance.
Likely · Within weeks
Open Questions
- What will be the full impact of the allegations on West Ham's reputation?
- Will further investigations into Sullivan's conduct occur?
- How will the club's performance be affected by this internal conflict?
