West Ham Shareholders Address Sullivan Allegations, Kretinsky Becomes Largest Owner
West Ham United co-chairs Daniel Kretinsky and Vanessa Gold have voiced deep concerns following allegations of sexually exploitative and predatory behavior against David Sullivan, a major shareholder, brought forth by a BBC Panorama and Times investigation. Concurrently, Kretinsky's stake in the club is set to increase from 27% to approximately 43%, making him the largest shareholder and surpassing Sullivan's 38.8% ownership. Sullivan has categorically denied the claims. The co-chairs emphasized their focus on protecting the club's future and ensuring necessary financing.
Two major shareholders of West Ham United, Daniel Kretinsky and Vanessa Gold, have spoken out following serious allegations made against fellow shareholder David Sullivan. The allegations, detailed in a joint BBC Panorama and Times investigation, involve sexually exploitative and predatory behavior attributed to Sullivan.
Kretinsky and Gold issued a statement expressing their deep concern, asserting that their thoughts are with the women who have come forward. They described any abuse of power as abhorrent and commended the courage required to speak up against it.
Alongside addressing these concerns, a significant ownership restructuring has been agreed upon. Daniel Kretinsky's stake in West Ham United is set to increase from 27% to approximately 43%, positioning him as the club's largest shareholder. This move will see his ownership exceed David Sullivan's 38.8%.
David Sullivan, 77, has categorically denied the claims, which reportedly span a period during which he accumulated wealth from ventures in pornography, newspapers, and football.
Kretinsky and Gold also stated that the full West Ham United Board was not notified about these allegations against Sullivan until about a month prior, and they were not made aware of the full details until they became public. Additionally, the Board representatives, excluding David Sullivan, were informed only this week about safeguarding measures that have been in place since 2023, which include a ban on Sullivan having contact with the club's women's and youth teams.
As shareholders and directors, Kretinsky and Gold affirmed their commitment to protecting the football club's future. They confirmed an agreement on key terms for a share purchase transaction between the Gold family and 1890 Holdings, which is part of the broader group EP. This transaction, pending approvals, would establish 1890 Holdings as the largest shareholder and enable it to provide additional necessary financing for the club.
According to Yahoo Sports Soccer, this development comes as West Ham navigates both the fallout from the investigation and efforts to return to the Premier League following a recent relegation, its first since 2012.
