Amanda Staveley, through her consortium PCP Capital Partners and in partnership with Ashland Forest Capital Partners, has provisionally agreed to purchase a 25.1% shareholding in West Ham United from Vanessa Gold. The deal is valued at £150 million, or approximately $202 million. This move positions Staveley, known for her role in the Saudi-backed takeover of Newcastle United and that club's subsequent success, as a significant new investor in West Ham. She previously led Newcastle to the Champions League in 2023.
The sale, however, is subject to a pre-emption process, which allows existing shareholders, including David Sullivan and Daniel Kretinsky, the option to buy the shares instead. This process is expected to take about two months. Kretinsky, a Czech billionaire, had previously been in negotiations to acquire a portion of Gold's stake, with plans to become the largest shareholder at 43%, exceeding Sullivan's 38.8%. Kretinsky had reportedly been considering a roughly £100 million loan to the club for player acquisitions.
Staveley's bid has created uncertainty regarding West Ham's future ownership, potentially putting Kretinsky's plans on hold. A spokesperson for Kretinsky warned that Staveley's move could destabilize the club. The current ownership structure sees Vanessa Gold's family holding 25.1%, with David Sullivan holding 38.8% and Kretinsky's EP Group holding 27%. If Kretinsky were to buy the full Gold shareholding, taking his stake above 50%, he might be compelled to buy Sullivan's stake at a higher valuation due to a shareholders' agreement.
West Ham United, despite being relegated to the second tier of English football, maintains strong support, with around 50,000 season tickets sold for the upcoming season. The club has stated that the day-to-day running will not be affected during the two-month pre-emption process and preparations for the new season will continue as planned. Vanessa Gold expressed confidence in Staveley's experience in leading successful football clubs, while Sullivan indicated his disappointment and that his group is reviewing all options, including exercising their pre-emption rights.
