RESOLVING THE LEDGER
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See the full story · 2 sourcesMehrdad Ghodoussi and Amanda Staveley sold their shares in Newcastle two years ago [Getty Images]
Former West Ham co-owner David Gold's daughter Vanessa has confirmed the family plan to sell their shares in the club to a consortium headed by ex-Newcastle co-owner Amanda Staveley.
BBC Sport previously reported Gold's family had been holding discussions with Staveley's consortium, which also includes her husband Mehrdad Ghodoussi, over a 25% stake in the Championship club.
In a statement, Vanessa 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 the process has not yet concluded, I wanted to be open with our fans about where things stand and my intentions."
David Gold, who died in 2023, was joint chairman of the Hammers for 13 years in tandem with long-time business partner David Sullivan.
Sullivan is still the largest shareholder in the club, while Daniel Kretinsky has the next highest stake.
Kretinsky's EP Group held discussions with the Gold family earlier this summer, soon after West Ham's relegation from the Premier League, about buying their stake and becoming the club's single largest shareholder, but that deal fell through.
BBC Sport reported in June the deal would have seen Kretinsky's stake in the club rise from 27% to 43%, exceeding Sullivan's 38.8%.
Staveley and Ghodoussi were previously shareholders at Newcastle between 2021 and 2024, having been involved with the takeover of the Tyneside club by Saudi Arabia's Public Investment Fund.
Vanessa Gold added: "My ambition throughout this process has been to ensure the club has the right leadership and ownership to enable West Ham to achieve its potential and return to its rightful place in the Premier League.
"Amanda Staveley, Mehrdad Ghodoussi and PCP Capital Partners will bring deep experience and understanding of what it takes to lead a successful football club. I have every confidence in what she and her partners can bring to West Ham."
However, Gold's sentiments were not shared by Kretinsky – whose spokesperson issued a statement responding to news of the imminent deal with Staveley's consortium.
This read: "The agreement we had reached with the Gold family in June provided stability for the club at a crucial time. Today's announcement does the opposite.
"We will always act in the best interests of West Ham United and are reviewing all of our options, including exercising our pre-emption rights in full."
Pre-emption rights are legal or contractual provisions that allow existing shareholders to purchase shares before they are offered to external parties.
Gold and Kretinsky spoke jointly in June of their deep concern at allegations of sexually exploitative and predatory behaviour made against Sullivan, 77, following a joint investigation by BBC Panorama and The Times.
Sullivan has "categorically" denied those allegations.
West Ham begin the new season with a Carabao Cup first round tie at home to Portsmouth on Saturday, 8 August, with their opening Championship fixture at Burnley eight days later.
Uncertainty over Gold's move - analysis
Daniel Kretinsky (centre) also owns a significant stake in supermarket chain Sainsbury's [Getty Images]
Simon Stone, BBC chief football news reporter
This story might have a while to run as Daniel Kretinsky does not believe the situation is quite as clear cut as Vanessa Gold has made it appear.
Gold and Kretinsky agreed a memorandum of understanding in June when West Ham was plunged into turmoil over allegations surrounding former co-chairman David Sullivan, which he denies.
Kretinsky felt the agreement gave West Ham stability and allowed it to move into the summer following relegation with the clarity that persuaded skipper Jarrod Bowen to stay.
He feels that clarity has now been eroded.
He is also of the opinion that pre-emption rights allow him – and Sullivan for that matter – to bid for Gold's shares, and then any remaining ones.
This process, it is felt, could take two months.
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