Daniel Kretinsky owned Czech investment group 1890s holdings buys minority stake in West Ham

While West Ham’s men team has been in fine form this season, their summer window was fuelled with speculation about a potential new owner. It had many fans wondering as to whether that would see the team spend more over the summer but the move never materialized. However, rumours and reports indicated that the club were indeed looking at someone to buy a stake, which was confirmed by David Moyes.

It has taken a while but West Ham have finally confirmed that Czech billionaire Daniel Kretinsky has indeed bought a minority stake in the club. The Hammers have revealed that Kretinsky has bought a 27% stake and the statement confirmed that the move will change the club’s “capital structure” and will help to reduce their “long-term debt”.

“West Ham United is pleased to announce that Czech investment group 1890s holdings a.s has completed the acquisition of 27% shares of WH Holding Ltd. As part of the agreement, it is intended that 1890s holdings a.s Chairman Daniel Křetínský and his colleague Pavel Horský will become members of the Board of Directors of WH Holding Ltd,” reads the statement on the club’s website.

“A successful global investor, businessman and lawyer, Mr Křetínský’s investment follows diligent negotiations with the shareholders, including West Ham United Joint-Chairmen David Sullivan and David Gold. The agreement is a further improvement to the Club’s capital structure which will initially enable the reduction of its long-term debt and the ability to continue to direct funds generated into other key areas of focus, continuing the positive progress made at West Ham United in recent years.”