West Ham United faces intensifying boardroom battle over shareholdings

An internal boardroom struggle at West Ham United is intensifying as the club's shareholder pre-emption rights process begins. The conflict centers on Vanessa Gold’s 25.1% stake, which has become a focal point for competing interests.

Daniel Křetínský has reportedly adjusted his position to navigate the club’s shareholder agreement. By selling a 2% stake to investor Jakub Havrlant, Křetínský has reduced his holding to below 25%. This move is viewed as a strategic calibration to avoid a clause that would force him to purchase David Sullivan’s 38.8% stake at an inflated price if he were to cross the 50% ownership threshold.

Under the current agreement, any transfer of shares must first be offered to existing shareholders. The bidding process is expected to occur in two rounds: first, shareholders may purchase a proportion of shares equal to their current holdings, followed by a second round for any remaining shares.