Two of West Ham's main shareholders, Daniel Kretinsky and Vanessa Gold, have spoken out about the allegations made against David Sullivan and announced a share purchase agreement that will make the Czech businessman the club's largest shareholder.
In a joint statement, Kretinsky and Gold said they were “deeply concerned” about allegations of sexually exploitative and predatory behavior advanced by a joint investigation by BBC Panorama and The Times. With the transaction, Kretinsky's stake will rise from 27% to around 43%, above the 38.8% held by Sullivan. "Our thoughts are with the women who fought to make their voices heard. Any abuse of power is abject and requires great courage and determination to report it," they say.
Sullivan, 77, “categorically” denied all the allegations, which date back to the period in which he built his fortune in the pornography, press and football sectors. Kretinsky and Gold added that the West Ham board “was only made aware of these allegations around a month ago” and that they only learned the full details when they became public on Monday.
Meanwhile, Sullivan has been prevented from contacting the club's women's and youth teams for the past three years due to safeguarding concerns. “As communicated by West Ham, representatives on the Board of shareholders other than David Sullivan only learned this week of the safeguard measures in place since 2023,” indicated Kretinsky and Gold.
All of this comes as the club manages the impact of the investigation and tries to secure an immediate return to the Premier League after relegation — the first since 2012. “As shareholders and directors, our focus is on protecting the future of West Ham,” Kretinsky and Gold emphasized, revealing that an understanding has been reached on the terms of the purchase of shares between the Gold family and 1890 Holdings which, subject to pre-emption rights of other shareholders and necessary approvals, will make 1890 Holdings (part of the group EP) in the largest shareholder, with around 43%. “As the largest shareholder, the EP group will be able to secure the additional financing the club needs.”
Kretinsky, who joined the Hammers in November 2021, and Gold, whose family worked closely with Sullivan, say they have the support of other shareholders, such as Tripp Smith, Daniel Harris and Terry Brown, for the club's future vision. “We are taking these steps because West Ham needs to be truly united at this time in its history,” they say, noting that they hope to close the deal “in the coming weeks.” Once the agreement is concluded, the EP group and the Gold family will vote together on key issues and support the strategy of an immediate return to the Premier League.
Despite the relegation, Nuno Espírito Santo will remain in office to try for promotion from the Championship — just as he did in 2018 for Wolverhampton. It remains to be seen what the immediate impact of the deal will be on the squad. West Ham recorded losses of £104.2 million in the financial year to May 31, 2025 and anticipates a significant new deficit this year. The departure of several figures was expected, including Portuguese midfielder Mateus Fernandes, a target of strong interest from Manchester United, who, however, is not willing to reach the 80 million pounds that West Ham will seek.
With recognized financial capacity — he holds, among other assets, a significant stake in the Sainsbury's supermarket chain — Kretinsky is prepared to inject capital if necessary and, with Vanessa Gold, he also wants to rebuild bridges with fans, after years of protests against Sullivan and former vice president Karren Brady. "Our aim is to stabilize West Ham, retain as many of our key players as possible and, under the leadership of Nuno Espírito Santo, secure an immediate return to the Premier League. We are equally committed to engaging with our fans and business partners to build a stronger future. We believe that a strong coalition — fans, players, coaching staff and management — is essential to ensuring the bright future this club deserves. We are absolutely committed to doing our part."