CompetitionsPremier League

Czech Kretinsky acquires 27% stake in West Ham

Czech billionaire investor Daniel Kretinsky’s 1890s Holdings group has acquired a 27% stake in English Premier League soccer club West Ham United, a spokesman for the group said on Wednesday.

Kretinsky, who owns Czech top-flight club Sparta Prague, and his colleague Pavel Horsky have been appointed to the board of directors at West Ham.

“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, West Ham said in a statement.

Kretinsky added: “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.

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