Daniel Kretinsky is poised to become the largest shareholder at West Ham United after finalizing an agreement with David Sullivan, significantly undermining Amanda Staveley’s attempts to acquire a stake in the club.

Staveley, who recently attended West Ham’s 4-2 victory over Wolves earlier this week, was actively pursuing Vanessa Gold’s 25.1% stake in the club. Previously a director at Newcastle United, Staveley had formed a consortium aiming to secure a position on the board of the east London club.

However, the arrangement triggered a process that allowed existing shareholders to exercise their pre-emption rights over Gold’s stake before a set deadline. Reports indicate that Kretinsky, a Czech billionaire and owner of Royal Mail, has reached an agreement with Sullivan that will elevate his stake from 27% to 46%. This development effectively sidelines Staveley’s group from the negotiations.

Key details include:

• David Sullivan will increase his stake from 38.8% to 40%, retaining his position as the second largest shareholder.
• Tripp Smith’s holding will rise from 8% to 11%.
• Other shareholders will see their stakes increase from 1.1% to 3%.

Staveley’s hopes hinge on other shareholders not exercising their pre-emption rights, but sources suggest her chances are slim.

Sullivan, who stepped down as co-chair in June amidst serious allegations which he denies, remains involved with the club but without a board seat, marking a significant shift in West Ham’s power dynamics.