Daniel Kretinsky’s interest in full West Ham takeover appear to be diminishing – but he could help the club buy the London Stadium as a minority investor.
Kretinsy bough a 27 per cent stake in the Hammers in a £180m deal in 2021 but has not yet upped his stake, despite having the option to do so at a set price.
In a recent rare interview, the 48-year-old billionaire claimed that he had no immediate plans to take a controlling stake in the club.
He did, however, say that he could be tempted to up his stake while still remaining a minority shareholder.
His reluctance to fully commit to West Ham may stem from developments elsewhere in his business empire, which are placing a heavy strain on his time and resources.
But his biggest project at the moment, the controversial takeover of British postal service the Royal Mail, could potentially have a significant impact on West Ham.
Royal Mail deal could pave way to London Stadium deal
It has been known for a while now that West Ham are open to buying the London Stadium.
They currently pay a sum of around £2m per year in rent, which most analysts consider something of a steal.
However, the relationship with the stadium landlords, who are publicly funded, has been rocky.
The nature of the rental agreement with the London Legacy Development Corporation means that, while they can reconfigure the stadium, the Irons cannot make major changes.
It also means that they are only entitled to a fraction of any potential naming rights deal, which could be worth between £10m and £20m per year.
These are just a handful of reasons why a more permanent solution might be of interest to the club.
And Kretinsky’s purchase of the Royal Mail, which now looks set to go through at a value of £3.5bn, could clear the path for them to do exactly that.
The political reach and influence that comes with acquiring a British institution like the Royal Mail could prove invaluable.
As reported by Sky News, he is set to meet business secretary Kemi Badenoch next week to talks about the acquisition. That in itself is emblematic of the sway his name would hold as Royal Mail owner.
The Czech could facilitate and streamline negotiations between West Ham and the government-funded owners of the London Stadium, helping them navigate what would be a complex bureaucratic process.
His access to information and his network within the Royal Mail and beyond would further help in this department, as would his ability to influence public support through his government contacts.
Most stadium development, construction or purchase plans require image management in terms, liaising with the locals and so on.
This would be particularly pronounced in the case of the London Stadium, given its history and cultural status.
Kretinsky’s proxy influence would help attract and improve public support and make the transaction smoother and less contentious.
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West Ham takeover: Will Kretinsky ever take control?
While Kretinsnky has explicitly outlined his lukewarm stance about a full West Ham takeover, they don’t call him the ‘Czech Sphinx’ for nothing.
He has established a reputation as an inscrutable investor, one for whom even the most experienced analysts struggle to predict his next move.
It would be far from the biggest shock of his investment career if he decided to pull a 180 and take full control of West Ham after all.
After all, the nature of the put and call agreement between himself,David Sullivan and the estate of David Gold mean that this deal could effectively be done overnight.