West Ham confirm 27% investment from Czech group

West Ham have confirmed a 27% investment from Czech group 1890s holdings into WH Holding Ltd, fronted by billionaire businessman Daniel Kretinsky.

The Hammers have stated that Kretinsky and his colleague Pavel Horsky will become members of the Board of Directors of WH Holding Ltd, subject to any late complications.

News of the imminent investment into West Ham first broke at the end of October, with 90min subsequently confirming that a deal had been agreed with Kretinsky - who also owns a 40% share in Sparta Prague and is their president.

1890's investment - which will see the group take close to a 30% share - values West Ham at around £600m, and is the first step of what is likely to be a full takeover of the club in the future - one that will end the decade-long 'GSB' era.

Commenting on the deal, Kretinsky said in a statement released by the club: “I am delighted this detailed process has now been successfully concluded. 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 the 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.”

90min learned that the delay in announcing the investment stemmed from needing government approval, owing to the club's renting of the London Stadium from E20 - a company set up by the London Legacy Development Corporation (LLDC) to manage the stadium following the conclusion of the 2012 Olympic Games.

But those formalities have now been taken care of, and the investment will see the club release more shares, diluting the current shareholders, and will allow the money coming in to benefit the club as well as the existing shareholders. It's also intended to make the club debt free moving forward.

Hammers' vice-chairman Karren Brady added of the deal: “On behalf of the Board I am very pleased to welcome Daniel Kretínsky, 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.

“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.”

For more from Toby Cudworth, follow him on Twitter!