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Czech billionaire to buy 27 per cent of West Ham

Thu 28 October 2021 | 14:20

The trend of selling Premier League club shares continues, and West Ham intend to sell their shares after Newcastle.

According to reports, a Czech billionaire will agree with

West Ham United

in a few days to buy a major stake of the club.

Sky Sports claims that Daniel Kretinsky, who owns Sparta Prague and owns a majority stake in Royal Mail and J Sainsbury, is in talks with West Ham United owners to buy a 27% stake. The transaction is expected to be announced in the first week of November, when West Ham host Liverpool. Under the agreement, Kretinsky has the right to take over the entire shares of the club after an indefinite period.

Kretinsky will reportedly spend between £600m and £700m, to buy the shares, ending the 11-year tenure of David Gold and David Sullivan if he buys all the club shares.

The deal follows a series of deals by Premier League clubs to sell their shares, the most recent of which was the controversial purchase of Newcastle United by the Saudi Investment Fund.

Kertinsky, who is involved in energy, media and industry, has become one of Britain's leading investors by owning shares in Royal Mail and J Sainsbury.

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source: SportMob

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