Sports01 August, 20262 min read
Vanessa Gold Agrees To Sell West Ham 25.1% Stake To Amanda Staveley-Led Consortium
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Vanessa Gold confirms selling 25.1% West Ham stake to Amanda Staveley-led consortium. Consortium led by Amanda Staveley includes Mehrdad Ghodoussi and PCP Capital Partners.
Gold sells 25.1% stake
Vanessa Gold has confirmed she has agreed to sell her family’s 25.1 per cent shareholding in West Ham United to a consortium led by Amanda Staveley and Mehrdad Ghodoussi, in partnership with Ashland Forest Capital Partners. The deal is being framed as a return to the top flight for Staveley, with the Gold family’s agreement described as subject to a pre-emption process that gives existing shareholders the option to buy the shares instead.
Gold said, "I have now reached an agreement to sell my family’s shareholding to a consortium of PCP Capital Partners, led by Amanda Staveley and Mehrdad Ghodoussi, in partnership with Ashland Forest Capital Partners," while also saying the process had not yet concluded. West Ham said it was aware of Gold’s announcement and that the proposed transaction would be subject to a pre-emption rights process, with "This process will take approximately two months" until it is completed.
Kretinsky calls it instability
Daniel Kretinsky responded to the Staveley-led agreement by suggesting it would create instability at West Ham, after he had previously agreed a sale of a 16 per cent stake to him in June. Kretinsky said, "Today's announcement does the opposite," adding that he would "always act in the best interests of West Ham United" while reviewing options including exercising pre-emption rights in full.
The BBC reported that Gold’s family plans to sell its shares to Staveley’s consortium, and it quoted Gold saying, "While the process has not yet concluded, I wanted to be open with our fans about where things stand and my intentions." BBC Sport also noted that Kretinsky had been in discussions with the Gold family earlier this summer about buying its stake and becoming the club's single largest shareholder, but that deal fell through.
Pre-emption and season plans
As the pre-emption process runs, West Ham said the day-to-day running of the club would be "in no way affected by this situation," while preparations for the new season continued. The BBC said West Ham begin the new season with a Carabao Cup first-round tie at home to Portsmouth on Saturday, 8 August, before their opening Championship fixture at Burnley eight days later.
Sky Sports reported that the Hammers dropped out of the top flight at the end of last season and will begin the process of attempting to secure a swift return at Burnley on August 16. The Guardian added that the move by Staveley’s consortium comes after a previously agreed sale to Daniel Kretinsky fell through, leaving the Gold family’s 25.1% stake in play under the ongoing process.