After acquiring a 27% stake in West Ham United, it is only a matter of time before Daniel Kretinsky takes full control of the club.
That’s according to talkSPORT’s Simon Jordan, who also compared the Czech billionaire’s Hammers coup to how Arsenal owner Stan Kroenke started racking up shares before eventually taking full control of the Emirates.
Kretinsky, 46, known as the ‘Czech Sphinx’, is worth around $ 3 billion and was pictured at the London Stadium during the club’s victory over Liverpool.
While he only has a small stake in the club at the moment, the ruthless businessman – who also has stakes in J Sainsbury and Royal Mail – could take a bigger stake in the years to come .
According to The Athletic, Kretinsky values the club at £ 600million ($ 804million) and has handed over £ 127million ($ 170million) for his current stake.
The move was suggested as a “precursor” before he acquired the entire club, as former Crystal Palace owner Jordan offered his point of view on talkSPORT.
The White and Jordan host said, “I suspect he’s a precursor to this guy. [Kretinsky] owner of the football club.
“And also that [David] Sullivan and [David] Gold has positioned himself from that particular starting point as having someone in the building who just might be his exit strategy. ”
By buying 27% of the club, Kretinsky cemented himself on the West Ham board.
This is something Arsenal owner Kroenke did when he first acquired part of the North London club in 2007.
The American then bought 9.9% of the Gunners’ shares, before finally buying Danny Fiszman (16.1%) and Lady Nina Bracewell-Smith (15.9%) in 2011.
By buying out Fiszman and Bracewell-Smith and other smaller owners, Kroenke increased his control of the club to 62% and thus became Arsenal’s largest shareholder.
He eventually took full control in April 2018 when he bought Alisher Usmanov’s 30% stake in Arsenal for $ 712million (£ 550million).
Kretinsky bought a larger chunk of West Ham than what Kroenke was initially able to do at Arsenal, but the two deals were compared by Jordan.
“It’s very similar, Kroenke took a job at Arsenal and then built, built, built and acquired the lot,” the talkSPORT expert said.
“West Ham is in a decent nick, the £ 600million valuation is 20%, 30% more than what [Crystal] Palace sold 20% more of his business for.
“Palace sold 20% for £ 90million, valuing them at £ 450million because some people would suggest West Ham could be a much more valuable commodity than Crystal Palace.
“I’m not in this camp because they’re both in London and they both have big catchment areas and big fan bases.
“Obviously West Ham has more livery and a little more reputation than Palace, but they’re both in the same space in the Premier League and West Ham right now is really good guns because they’re” massive ”.
“Taking everything into account, it’s incredibly beneficial to have someone of that ilk in the business. ”