Gold and Sullivan millions out of pocket thanks to partial sale of West Ham

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Although it’s believed that David’s Gold and Sullivan are both worth a pretty penny, news that they’ll need to pay back millions of pounds to the landlords of the London Stadium is unlikely to be music to their ears.

According to BBC Sport, as the pair have sold 27 percent of West Ham to Czech billionaire, Daniel Kretinsky, a concession agreement comes into force which included certain financial penalties should the east Londoners be sold before 2023 and for more than £300m.

Kretinsky is believed to value the Hammers at close to £700m.

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E20, who run stadium, are therefore due a significant windfall.

Daniel Kretinsky

Kretinsky, though his EP Investment Sarl investment company and 1890 holdings s.a holding company, will have the option in future to buy the Hammers for a set price.

Intriguingly, if Sullivan and Gold decide against selling the remainder of their stake in the club, they will have the option to buy Kretinsky’s shares back.

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