Daniel Křetínský has an agreement to takeover the Club

24th November 2021

After the acquisition of shares by Daniel Křetínský, West Ham is required to submit revised Articles of Association, which detail the directors’ and shareholders’ rights and obligations.

The new Articles were published at Companies House yesterday. They include the recognition of a Put and Call Option Agreement betwen David Sullivan, 1890 Holding a.s (the new company through which Křetínský holds his shares in the Club), and E P Investment Sarl (Křetínský's investment company).

A Put Option grants a right (but not an obligation) for a potential seller to sell their shares to a buyer at a pre-agreed price, or at a price to be determined in accordance with a pre-agreed formula, or by a specified time in the future. It enables Sullivan to be guaranteed a price for his shares for a limited period. The agreement includes the provisions for the other shareholders to be included under the same terms.

A Call Option is the opposite, i.e. a right (but not an obligation) to buy shares at a certain price or a price to be calculated in accordance with a pre-agreed formula, or by a specified time in the future. This enables Křetínský a guaranteed purchase price for a limited period.

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EDIT: 2 days later the mainstream media catch up with us.