Czech Republic billionaire buys 27% of West Ham shares

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West ham United announced about an hour ago that a Czech Republic investment company has successfully completed the acquisition of 27% shares of WH Holdings Ltd.

“We are pleased to announce that Czech investment group 1890s holdings a.s has completed the acquisition of 27% shares of WH Holding Ltd.” West Ham posted on their website

The Czech Republic business behind the acquisition is Mr. Kretinsky, who is also a lawyer. West Ham said the move is to improve the club’s financial position which will help them service their “long-term debt and the ability to continue to direct funds generated into other key areas of focus”

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“A successful global investor, businessman and lawyer, Mr Kretinsky’s investment follows diligent negotiations with the shareholders, including West Ham United Joint-Chairmen David Sullivan and David Gold. The agreement is a further improvement to the club’s capital structure which will initially enable the reduction of its long-term debt and the ability to continue to direct funds generated into other key areas of focus, continuing the positive progress made at West Ham United in recent years” the club detailed

Mr. Daniel Kretinsky who is very happy about the development said he “feel privileged to now have the opportunity to help everyone here”.

“I feel privileged to now have the opportunity to help everyone here build on the proud traditions of this great 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” Mr. Daniel Kretinsky said.

Source: whufc.com