Kieran Maguire: West Ham chief Daniel Kretinsky to be 'investigated by lawyers' amid takeover news
Daniel Kretinsky’s planned West Ham takeover will be investigated by lawyers and accounts under new governance laws for English football.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the powers of the proposed independent regulator.
The Government announced on Monday (25 April) that it has begun the process of creating a new body with powers to legislate on takeovers.
Kreintsky bought 27 per cent of West Ham from David Gold and David Sullivan in November last year.
The Czech billionaire has agreed a deal in principle to complete a full buyout once a windfall tax clause at the London Stadium expires in 2023.
And Maguire explained how the new legislation will add another layer of bureaucracy before the takeover can get over the line.
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“Embedded within the proposals of the report is the protection of the game from unscrupulous people,” he told Football Insider‘s Adam Williams.
“Kretinsky appears to be totally above board but sources of money, as well as moral and ethical codes, will be looked at.
“At the same time, however, the Government has made it very clear that it does not want the regulator to make decisions based on geopolitics.
“We have already got the Foreign Office who decides who we trade with. It isn’t the job of a football regulator.
“I think it will be a lighter touch than some people fear, all in all.
“We don’t know exactly who is going to be on the investigation panel but it is likely to be forensic accountants and lawyers who make the checks.”
The Hammers are in action against Arsenal tomorrow (1 May).
David Moyes’ side are 7th in the league with four games to go.