David Moyes says he has only heard rumours that Daniel Kretinsky could complete a partial takeover of West Ham United with an initial investment, via quotes by football.london.
Reports by The Athletic earlier this week claimed the Czech billionaire is considering buying a 27% stake in the Hammers. The 46-year-old has studied purchasing shares in the Premier League outfit from David Gold and David Sullivan for several months.
His initial investment would lay the foundation for a full takeover in the future, likely linked to the London Stadium. Gold and Sullivan will have to pay the London Legacy Development Corporation (LLDC) 20% on anything earned over £300m.
The clause in the Irons’ rental agreement for the London Stadium with the LLDC ends in 2023. Gold and Sullivan would then earn more by selling West Ham to Kretinsky, in a deal which would value the club at around £600m. Double what Mike Ashley sold Newcastle for.
The Evening Standard also note Kretinsky’s initial investment in West Ham would be worth £150m before any complete takeover. It would also raise the possibility of greater spending for Moyes in the January transfer window. And the Irons boss feels that a deal may happen.
“[I have heard] just the same rumours you have heard,” Moyes said. “I do not know any more than you know, but it sounds as if something is happening, yes.”
Kretinsky takeover good news for Moyes and West Ham?
Kretinsky investing in West Ham – and the potential for a full takeover – should excite the Irons fanbase and Moyes. The pandemic has severely impacted the Hammers’ finances, with the Standard adding Sullivan revealed the club is £150m in debt.
West Ham recorded losses of £65m for the previous 12-months in May 2020 before the full effects of the pandemic. Losing revenue through games being played behind closed doors. The east Londoners also had a net spend of £63.5m during this summer’s transfer window.
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