The truth about Daniel Kretinsky and his West Ham United takeover bid

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Daniel Kretinsky is in talks with West Ham United over purchasing a 27% stake in the club, but negotiations are not as advanced as has been suggested.

Reports over the last few hours have suggested that Kretinsky is closing in on become a shareholder at the Hammers, where he would initially not have control but would do after an indefinite period, taking over from co-owners David Sullivan and David Gold.

However, understands that while interest from both parties is genuine, there have been talks over a minority stake without the option for a full takeover as some have suggested.

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While this would hand West Ham a financial boost, with the Czech billionaire completing the transaction, it would mean that Gold and Sullivan would still have complete control of the Irons for the foreseeable future.

Kretinsky is understood not to be the only interested party, but as it stands, he is the one furthest along in negotiations.

The 46-year-old businessman is from the Czech Republic and is most well known for being the co-owner and president of Sparta Prague.

His education was in the legal world, going on to become both a judge and a lawyer of the Constitutional Court of the Czech Republic.

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According to Forbes, Kretinsky is currently worth £2.9billion, which would see West Ham become one of the richest clubs in the Premier League should he complete the purchase of the 27% stake.

We are likely to hear plenty more on Kretinsky and his interest in joining the Hammers board and we will keep you update right here on as and when we get the information.

Source by Football London

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