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An investment group from the Czech Republic has bought a 27 per cent stake in West Ham.
Businessman Daniel Kretinsky, the co-owner of Sparta Prague, and his colleague Pavel Horsky will also be appointed to the Premier League club’s board following the deal.
West Ham said in a statement: “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.”
Kretinsky, who watched West Ham beat Liverpool 3-2 last weekend at London Stadium, said: “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 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.”
Hammers vice-chairman Karen Brady said: “On behalf of the board I am very pleased to welcome Daniel Kretinsky, Pavel Horsky 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.
“[Joint chairmen] 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.”
West Ham have enjoyed a strong start to the 2021-22 season under manager David Moyes, with seven wins in 11 games putting them third in the Premier League, level on points with Manchester City and three behind leaders Chelsea.
