Daniel Kretinsky’s £114m move sparks West Ham takeover questions | OneFootball

The Czech billionaire took out a substantial sum from the postal service.

There is intense speculation about the future of West Ham, despite Daniel Kretinsky increasing his share to become the club's largest shareholder.

The Czech billionaire took action after David Sullivan stepped down from his positions as joint-chair and director of the Hammers, although the Englishman remains a majority shareholder.

Despite Kretinsky's recent moves, Amanda Staveley, who orchestrated the takeovers of Manchester City and Newcastle United, is rumoured to be preparing a takeover at the London Stadium.

Amidst all that news, there has been an intriguing report into Kretinsky's activity at Royal Mail, which involves a mouth-watering figure.

Daniel Kretinsky extracted £114m from Royal Mail

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West Ham's relegation from the Premier League was always going to generate plenty of speculation, especially around the possibility of key players leaving the London Stadium.

However, there have also been substantial developments off the field that could affect how the club operates for years to come.

Kretinsky recently increased his share in the Irons to 43 per cent, exceeding Sullivan's 38.8 per cent, to provide the Hammers with the necessary investment it needs.

It has also been revealed that the 50-year-old extracted £114 from Royal Mail to cover interest payments linked to his £3.6billion takeover of International Distributions Services (IDS), the parent company of the postal service, through his EP Group, according to The Telegraph,

The publication adds that the payout appears to run counter to the billionaire’s promise not to pay dividends from the business unless performance improved.

Royal Mail has been in the news for all the wrong reasons, as fewer letters have been delivered on time and stamp prices have increased amid the cost-of-living crisis.

Could Kretinsky take ultimate control of West Ham?

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There is certainly confusion in the air at the London Stadium amid Kretinsky's share increase and speculation around a takeover from Staveley's PCP Capital.

Of course, much will depend on what happens with Sullivan's 38.8 per cent share in West Ham, as there has been no news on whether he would sell it, although many are expecting him to do so after the revelations around his conduct.

Kretinsky has been involved in the East London club for years and was reportedly instrumental in retaining Nuno Espírito Santo as manager, so he would have been influential even before his share increase.

If Staveley does mount a takeover, then many will be wondering what happens to the Czech billionaire, as he would presumably still be involved, given his recent proportion rise.

Either way, there looks set to be further change at the London Stadium, and supporters will be hoping for not only player investment but also a clear long-term plan after years of poor decision-making.