Full Breakdown
West Ham United Ownership Shift Amid Allegations and Relegation
6/14/2026, 12:31:54 PM
Ownership Shift at West Ham United
Czech billionaire Daniel Kretínský, through 1890 Holdings (part of the EP Group), increased his shareholding from 27 % to roughly 43 % after a deal with Vanessa Gold. The transaction makes Kretínský the club’s largest shareholder, overtaking co-chair David Sullivan’s 38.8 % stake.
Context: Allegations and Relegation
A joint BBC Panorama and Times investigation, broadcast on 8 June, alleged that Sullivan engaged in sexually exploitative and predatory behaviour spanning decades of his career in the adult-industry, newspaper and football sectors. Sullivan denied the claims and announced legal action. The board learned of the allegations only a month earlier, when Sullivan warned that they might be published. He has been barred from contact with the women’s and youth teams since 2023. In the same period West Ham were relegated from the Premier League on the final day of the season, their first drop since 2012, and reported a £104 million loss for 2024/25.
Stakeholders
- Daniel Kretínský – Czech billionaire, principal of 1890 Holdings/EP Group.
- Vanessa Gold – Daughter of the late David Gold, representing the Gold family’s share.
- David Sullivan – Former co-chair, 38.8 % shareholder, now resigned.
- West Ham United Board – Oversees club operations and safeguarding measures.
- Nuno Espírito Santo – Manager retained after relegation.
- Football Association – Imposed the safeguarding restrictions on Sullivan.
Timeline & Share Structure
- Nov 2021 – 1890 Holdings acquires 27 % of West Ham.
- 8 Jun 2024 – Panorama/Times investigation aired.
- ? 1 month later – Board notified of pending allegations.
- 13 Jun 2024 – Kretínský’s stake rises to ~43 %; deal with Gold announced, pending shareholder approvals.
- Post-deal – Gold’s holding falls from 25.1 % to just over 9 %; Sullivan remains a 38.8 % shareholder but steps down from the board.
Impact and Future Plans
The club faces reduced revenue after relegation and a £104 million deficit. EP Group’s increased stake is intended to supply the “additional financing” required to stabilise operations, retain key players, and fund an “immediate return to the Premier League” under Espírito Santo. The ownership change also reshapes governance, concentrating decision-making between Kretínský, Gold and other minority investors.
Official Statements & Responses
Kretínský and Gold issued a joint statement saying they are “deeply concerned” about the allegations, expressing thoughts for the women who spoke out and condemning any abuse of power. They added that their focus is “protecting the future of this football club,” stabilising it, retaining players and securing promotion. The club confirmed that the board was only notified of the allegations a month before they became public. Sullivan responded by “categorically denying” the claims and indicated he will pursue legal action.
Criticism & Opposition
Sullivan’s denial and threat of litigation constitute the primary opposition to the allegations. Observers note that the board’s late awareness of both the allegations and the safeguarding measures introduced in 2023 raises questions about internal governance and transparency.
Conflicting Reports & Gaps
Sources differ on the exact post-sale size of Gold’s holding, describing it as “just over nine per cent” or leaving the figure unspecified. While the loss figure of £104 million is reported by some outlets, others omit it. Details of the precise financing amount to be injected by EP Group remain undisclosed, and Sullivan’s future share disposition is not addressed.
Verbatim Quotes
- “We were deeply concerned by the revelations made by The Times and Panorama this week and our thoughts go out to those women who have fought so hard to make their voices heard.” — Daniel Kretínský & Vanessa Gold
- “Any abuse of power is abhorrent, and it takes great courage and determination to speak up against it.” — Daniel Kretínský & Vanessa Gold
- “Our goal is to stabilise West Ham United, retain as many of our key players as possible and, under the management of Nuno Espírito Santo, secure an immediate return to the Premier League,” — Club statement
- “Sullivan has categorically denied those claims.” — David Sullivan
- “The full West Ham United Board was not notified about these allegations against David Sullivan until approximately a month ago, when he informed us that certain allegations against him may be published.” — Club statement
