Expect full billionaire buy out on 1 March 2023?
Daniel Kretinsky has agreed an option for a full takeover of West Ham as part of his
purchase of a 27% stake in the club.
The Czech billionaire became West Ham’s second-largest shareholder last month and documents submitted to Companies House this week show an option is in place for him to acquire the shares owned by
David Sullivanand David Gold for a set price.
The papers reveal that there was a put and call agreement between Sullivan, 1890 holdings a.s, the holding company used by Kretinsky to buy his shares, and EP Investment Sarl, Kretinsky’s investment company. It will give Sullivan, West Ham’s biggest shareholder, the right to sell his shares to Kretinsky at a set price. Kretinsky will have the option to buy Sullivan’s shares.
The price is set in writing and cannot change if Sullivan or Kretinsky take up their option. The figure will not rise if West Ham qualify for the Champions League this season and the documents also show that other shareholders can be included in the deal under the same terms.
The option exists only for a certain amount of time, but West Ham have not said when it expires.
Any sale by Sullivan before March 2023 would incur a cost to him and Gold under the terms of the agreement by which West Ham moved to the London Stadium in 2016. Sullivan and Gold will have to pay financial penalties to the taxpayer if the club is sold for more than £300m. Kretinsky’s investment, which was between £180m and £200m, is understood to have valued West Ham at £700m.
https://www.theguardian.com/footbal...y-agrees-option-for-full-takeover-of-west-ham