Tensions continue to rise in the corridors of power at the London Stadium as Daniel Kretinsky’s new stand against David Sullivan has been revealed – and it could save West Ham.
Czech billionaire Daniel Kretinsky is West Ham’s second-biggest stakeholder after buying 27 per cent of the club for around £150m in 2021.
But Kretinsky, who is described as ‘secretive’ by those in the business world where he has amassed a £13bn net worth, has only been heard from two or three times in a West Ham capacity in the four years since.
Kretinsky’s low profile was not seen as a major issue when things were going well for the Hammers.
The hope was that he may one day launch a full takeover bid for the Irons from David Sullivan and the Gold family.
West Ham close to rock bottom on and off the pitch
Fans have been sceptical about the co-owner ever since Kretinsky confirmed he has no intention of ever owning West Ham outright in an interview on Czech TV last year.
Kretinsky has his vote on any major West Ham matters and any spending over £1m.
So if he was being praised for his stealth and investment of his wealth when things were going well then he is complicit in the mess that is unfolding in east London over the last two years.
That’s why Kretinsky was very much part of the West Ham Fan Advisory Board’s damning public vote of no confidence in the ownership earlier this month.
The fallout since has left the Hammers in a civil war with fans. Quite literally with Sullivan’s reality TV star fiancee rowing with West Ham fans on social media.
Things on the pitch go from bad to worse with a home defeat to Crystal Palace meaning West Ham have lost five of their six games so far this season.
Many expected Graham Potter to be sacked after the Palace game following just six wins in 25 games across nine months.
But he remains in post as West Ham interview and line up replacements.
Supporters have started a season-long campaign of protests until Sullivan and Karren Brady leave or stand down.
Many point to the managerial situation as the latest example of board ineptitude with the club only looking at free agents.
Kretinsky’s new stand against Sullivan revealed
It has also become clear West Ham will have to spend money on players in January if they are to have any hope of staying in the Premier League.
The unsavoury situation sees the Hammers plumbing new depths.
A far cry from the first couple of years following Kretinsky’s arrival.
And it has finally seen the Czech Sphinx emerge from the shadows and start to flex his influence at board level.
Because Kretinsky’s new stand against Sullivan has been revealed and it could save West Ham.
On the face of it the news will have Hammers fans at rock bottom and feeling fully justified in their vote of no confidence.
But it may just change the club’s future one way or another.
A picture of chaos and division is being painted behind the scenes at the London Stadium right now.
Sullivan and Brady are reportedly at odds over where West Ham turn next.
Then a power struggle emerged as Kretinsky made four major calls over West Ham’s managerial situation.
Hiring a new manager who is in contract elsewhere and signing players in January will require money.
And money is something Sullivan was telling the world the Hammers don’t have in the summer due to PSR.
It was also claimed £100m plus losses are coming in the club’s December accounts.
West Ham’s owners can, however, use share rights to inject cash into the club.
Reports from fellow Hammers site Claret and Hugh this week claimed Sullivan and Kretinsky are refusing to inject any more cash into the club.
That would explain the use of payday loans to essentially fund West Ham in recent years.
But there is a very important caveat to the depressing situation.
Kretinsky’s stance over cash could actually save West Ham
Hammers News understands that while Kretinsky is refusing to pump in his own funds – despite his vast wealth – he has made one thing perfectly clear to Sullivan and co.
Essentially that he is no – for want of a better word – mug.
Kretinsky has taken a hardline stance with Sullivan and the rest of the board over the current situation, telling them he will not inject his own money unless they show the colour of theirs first.
So it forces Sullivan into a corner and Kretinsky’s move has left him exposed.
Now he either fronts some of his wealth to try and turn West Ham around and show the fans he is willing to listen to their demands.
Or, with no money coming from above, Sullivan will ultimately be forced to sell up by the ever-growing army of West Ham fans determined to force him out.
The only fix to West Ham’s long-term future is changes to the stadium, a state-of-the-art training ground, investment in the right managerial choice and players and better governance and fan engagement.
Most of that requires ambitious owners willing to inject funds.
Kretinsky has just made his play and it will smoke Sullivan out one way or another, ultimately to the benefit of the club either by forcing his hand over money and change or by making him concede the time has come for him to leave.
