In a twist that has all the drama of a soap opera but with more money and less subtlety, Daniel Kretinsky is set to become the largest shareholder at West Ham, having struck a deal with David Sullivan that effectively blocks Amanda Staveley's ambitions to buy into the Championship club. Staveley, who was seen enjoying West Ham's 4-2 victory over Wolves from the comfort of the London Stadium earlier this week, had been pushing to acquire Vanessa Gold's 25.1% stake. The British businesswoman, a former Newcastle director, had agreed terms with the Gold family in July and was fronting a consortium eager to secure a spot on the east London club's board.

However, that arrangement triggered a process allowing other shareholders to exercise their pre-emption rights over the Gold family's stake before a 5:30pm deadline on Thursday evening. It is believed that Kretinsky, a Czech billionaire and owner of Royal Mail, has now agreed with Sullivan to increase his stake from 27% to 46%. Sources suggest there is little chance for Staveley's group to recover from this setback.

Kretinsky, who will surpass Sullivan as the biggest shareholder, has long been intent on increasing his involvement with West Ham as they look to rebuild following their relegation from the Premier League last season. His plans were complicated by Staveley's entrance, but it seems Sullivan had other ideas. The 77-year-old, who reportedly rebuffed Staveley's summer inquiry about buying his stake, privately indicated a preference to deal with Kretinsky, who first bought into West Ham in November 2021. As part of the arrangement, Sullivan will see his stake rise from 38.8% to 40%, making him the second largest shareholder. Meanwhile, American businessman Tripp Smith's stake will increase from 8% to 11%, and remaining shareholders will see their shares rise from 1.1% to 3%. Staveley would need shareholders to decline their pre-emption rights to have any chance of making a separate offer for the Gold shares.

Sullivan stepped down as director and co-chair of West Ham in June, following a joint investigation by the Times and Panorama reporting allegations from seven women of abusing his power and preying on them for sex, with claims dating back to the 1980s and 90s. The 77-year-old categorically denies the allegations. Although Sullivan has been present at West Ham's home games this season, he no longer holds a seat on the board and is no longer the most powerful figure at the club - though he's clearly still got some pull behind the scenes.