LONDON: Premier League club West Ham United announced Wednesday that Czech billionaire Daniel Křetínský’s investment firm 1890s holdings a.s has completed the acquisition of 27% shares of WH Holding Ltd.
Financial terms were not disclosed.
As part of the agreement, it is intended that Křetínský and his colleague Pavel Horský will become members of the board of directors of WH Holding Ltd.
Both the men’s and the women’s teams have enjoyed positive starts to the season. The men’s side sit in third place in the Premier League after manager David Moyes’ side claimed a 3-2 home victory over Liverpool on Sunday, leaving them just three points behind leaders Chelsea.
Meanwhile, the women’s side are in sixth place with two wins after six games as they look to build on their ninth-place finish last term.
A successful global investor, businessman and lawyer, Křetínský’s investment follows diligent negotiations with the shareholders, including West Ham United joint-chairmen David Sullivan and David Gold.
The agreement is a further improvement to the club’s capital structure which will initially enable the reduction of its long-term debt and the ability to continue to direct funds generated into other key areas of focus, continuing the positive progress made at West Ham United in recent years.
Commenting on the investment, Křetínský said: “I am delighted this detailed process has now been successfully concluded. I am passionate about football. I greatly appreciate and respect the exceptional history and tradition of West Ham United as well as its loyal and passionate supporter base and also the highly inspiring role it plays in many social programmes and initiatives.
“The development and growth of the Club in recent years has been clear for everyone to see and I am delighted to be part of what I believe is a very exciting future ahead.
“Having been to the London Stadium recently to watch David Moyes’ team, I know it is an incredible time to become part of the West Ham United family. I feel privileged to now have the opportunity to help everyone here build on the proud traditions of this great Club.”
West Ham United vice-chairman Karren Brady said: “On behalf of the board I am very pleased to welcome Daniel Křetínský, Pavel Horský and 1890s holdings a.s to West Ham United. We are always looking to continue to progress and Daniel’s involvement brings investment which strengthens the Club’s position, and in turn will assist in the development of the Club’s key areas of focus.
“David Sullivan and David Gold have always been very open about finding the right investors to join them on the journey as custodians of West Ham United, and Daniel’s strong business acumen and football experience will be of huge benefit to the Club. We very much look forward to working with him and Pavel.”
Club ownership structure post Křetínský buy-in
David Sullivan 38.8%
David Gold 25.1%
WHU LLC* 8.0%
Other investors 1.1%
1890s holdings a.s** 27.0%
*The ultimate owner of WHU LLC is J Albert Smith.
** The ultimate owner of 1890s holdings a.s is Daniel Křetínský
