A hugely significant move from the West Ham owners.
That is, the shareholders other than David Sullivan.
A joint statement has been released by West Ham owners Vanessa Gold and Daniel Kretinsky (representing the Gold family and 1890 Holdings) who between them currently hold the majority of shares in the club.
Vanessa Gold (the Gold family) owning 25.1% and Daniel Kretinsky (1890 Holdings) who has 27.0%.
Their statement reading: “We were deeply concerned by the revelations made by The Times and Panorama this week and our thoughts go out to those women who have fought so hard to make their voices heard. Any abuse of power is abhorrent, and it takes great courage and determination to speak up against it. The full West Ham United Board was not notified about these allegations against David Sullivan until approximately a month ago, when he informed us that certain allegations against him may be published. However, the full details of the allegations, which Mr Sullivan denies, only became apparent when they were made public on Monday (8 June). In addition, as communicated by West Ham United, the Board representatives of Shareholders other than Mr Sullivan were only made aware this week of the safeguarding measures that have been in place since 2023.”
David Sullivan owns 38.8% of West Ham but now the other shareholders forming a pact that will give them control.
Their statement going on to say: “As Shareholders and Directors of West Ham, our focus is now firmly on protecting the future of this Football Club. Our goal is to stabilise West Ham United, retain as many of our key players as possible and, under the management of Nuno Espírito Santo, secure an immediate return to the Premier League. We are also committed to engaging with our fans and all business partners to build a stronger future for our Club. We have already taken concrete steps toward this goal. 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. We expect to finalise this transaction in the next couple of weeks. Once the agreement is complete, group EP and the Gold family have also agreed to vote jointly on key matters and to support the strategy targeting an immediate return to the Premier League.”
In their statement, Vanessa Gold and Daniel Kretinsky say that the other shareholders are also very much onboard with the plan: “Alongside Daniel Křetínský and Vanessa Gold, the other Shareholders, namely Tripp Smith, Daniel Harris and Terry Brown, are fully aligned on this strategy and stabilising the Club. We are taking these steps because West Ham United needs to be truly united at this moment in its history. We believe that a strong coalition – of fans, players, management and the Board – is essential to securing the bright future this Club deserves. We are absolutely committed to playing our part.”
Tripp Smith owns 8% of the Hammers and combined with Gold and Kretinsky that takes them to over 60%, with the other far smaller shareholders giving further support with their combined 1.1%.
David Sullivan has been a desperately unpopular figure with West Ham fans and despite relegation, they will be no doubt delighted to see him now so marginalised.
Newcastle United fans know all about having club ownership that is deeply unpopular and that supporters feel isn’t working for the good of the club, more than 14 years of Mike Ashley felt like an eternity.
Good luck to West Ham fans and their club as they try to get back on track, without David Sullivan as the key figure in charge.