Sources: New West Ham takeover details revealed as March cut-off looms
Daniel Kretinsky’s option to take a controlling stake in West Ham is on a long-term basis and does not expire any time soon, Football Insider has learned.
The Czech billionaire, who bought 27 per cent of the club in November 2021, has a put and call agreement with his fellow Hammers shareholders for a full takeover at a set price.
Football Insider understands that, as is typical with put and call agreements, the option has a defined expiry date after which the set price is void.
It has been forecasted that the option could be triggered immediately after the expiry of a windfall tax clause in the agreement with the London Stadium landlords on 31 March this year.
But a source familiar with internal operations at the London Stadium has now told this site that the option extends well beyond that date.
The source would not disclose the exact expiry date, although industry experts consulted by Football Insider suggested that it is likely to run at least until the end of the 2023-24 campaign.
As revealed by this site last Thursday (26 January), Kretinsky has made no formal approach to up his stake in the club despite recent reports that the death of David Gold could accelerate a transition of power.
It is understood that Kretinsky will wait at least until the end of the season before he even considers exercising his option to purchase more shares from either Gold’s estate or co-owner David Sullivan.
Significantly, the price agreed between Kretinsky and his colleagues in the Irons boardroom does not vary in events such as relegation.
Even if he did choose to up his stake, sources believe that it is unlikely at this stage that Kretinsky would choose to pass the 50 per cent threshold needed for a controlling share.
The 47-year-old, who has made his fortune in the energy and media sectors, has a penchant for blue-chip minority investments.
He recently became the single largest shareholder in Royal Mail parent company IDS with 23 per cent, and it has been reported that he wants to buy the firm outright.
In other news, West Ham will accept Declan Rice summer bid after multiple offers submitted.