West Ham co-chairman Daniel Kretinski will be the largest shareholder

Two of West Ham’s major shareholders have spoken out against David Sullivan after agreeing a deal that would see Daniel Kretinski become the club’s largest shareholder.

Kretinski and Vanessa Gold said they were “deeply concerned” by the allegations of sexual exploitation and predatory behavior against Sullivan by a joint BBC Panorama and Times investigation.

Kretinsky’s stake in the club rises from 27% to 43%, more than Sullivan’s 38.8%.

“Our thoughts go out to the women who have fought so hard to make their voices heard,” Kretinsky and Gold said in a statement.

“Any abuse of power is abhorrent, and it takes great courage and determination to resist it.”

Sullivan, 77, said he “categorically” denies the claims, which cover a period in which he made a fortune from pornography, newspapers and football.

Kretinsky and Gold said “the entire West Ham United board was not informed of these allegations against Sullivan until about a month ago” but did not learn the full details of the allegations until they were made public on Monday.

Sullivan has been banned from association with the club’s women’s and youth teams for the past three years, citing threats.

“At West Ham, board representatives, apart from David Sullivan, have only this week been made aware of the safeguards that are in place from 2023,” Kretinski and Gold said.

West Ham are dealing with the fallout of the investigation at the same time as they try to return to the Premier League for the first time since 2012.

“As shareholders and directors of West Ham, our focus is on securing the future of this football club,” said Kretinsky and Gold.

“We have therefore reached agreement on the key terms of the share purchase between the Gould family and 1890 Holdings, which will make 1890 Holdings (part of the wider Group EP) the largest shareholder in West Ham with an approximate 43% stake, subject to pre-emptive rights and necessary approvals by other shareholders.

“As the largest shareholder, Group EP can provide the club with the additional financing it needs.”

More to follow