Brady leaves West Ham but Sullivan going nowhere as Kretinsky moves to up stake

Karren Brady has stepped down as West Ham’s vice-chair after 16 years but David Sullivan has no intention of following his longtime ally out of the door despite the Czech billionaire Daniel Kretinsky moving to match his fellow owner’s control of the club.

After Brady’s shock announcement of her departure sparked a day of major change at the London Stadium, it emerged that Sullivan and Kretinsky have lined up deals to buy a portion of the Gold family’s 25.1% stake and are poised to share power in the boardroom.

The battle for influence at West Ham began after David Gold’s death in January 2023 led his daughter Vanessa Gold to appoint Rothschild & Co to sound out interest from potential investors in her family’s shareholding. It is understood there was interest from buyers who looked at buying the Gold stake and possibly more. A source said that would have raised the prospect of Sullivan, who partnered with Gold to buy West Ham in January 2010, heading for the exit.

Instead an alternative arrangement has been found. There has long been speculation that Kretinsky has been after a greater say since becoming the second-largest shareholder when he bought a 27% stake in November 2021. That left Sullivan with a 38.8% stake, making him the largest shareholder and most powerful figure. Club sources have said the 77-year-old has regularly faced little internal opposition on major decisions such as the hiring and firing of managers.

That is poised to change. Kretinsky, now described as the club’s joint-chair, is understood to be buying a significant portion of the Gold stake and will match Sullivan’s shareholding. That will allow the Czech to exert greater influence, even though Sullivan is also purchasing part of the Gold shares. Kretinsky and Sullivan are expected each to own more than 40% of the club. Both have elected against pushing for a majority shareholding. The Kretinsky camp declined to comment.

A source familiar with the process said that Sullivan, whose sons Jack and Dave Jr hold positions at the club and have become increasingly influential, has shown no inclination to leave and has long-term planning in place to safeguard his position. A large section of West Ham fans have railed against Sullivan after a difficult season, with the club in danger of relegation from the Premier League. Brady has also been targeted by fan groups calling for change. Supporters have protested at games and led No More BS (Brady and Sullivan) campaigns.

West Ham, 17th with five games to play, made a loss of £104.2m in the last financial year and may have to sell key players this summer. Fans have accused the board of mismanagement and many have railed against Brady since the club’s move from Upton Park to the London Stadium in 2016.

In 2013 Brady promised supporters “a world-class stadium with a world-class team” but implementing that vision has been tougher than anticipated. She was credited with leading the negotiations that led to West Ham’s move into the 62,500-capacity venue. The crowning moment of her time in east London came when West Ham won the Conference League three years ago.

There have been rumblings over her position during the past three months. Speculation grew after the exit of Brady’s right-hand woman, Tara Warren, in December. Club insiders were aware of the noise, although there was still surprise when Brady’s departure was announced on Tuesday. It was business as usual when West Ham drew 0-0 with Palace on Monday.

Brady’s exit was followed by news of further departures, with the chief finance officer, Andy Mollet, to leave at the end of the season and the executive director Nathan Thompson stepping down with immediate effect. Kretinsky is expected to be involved in identifying recruits for those roles.

Brady, who is said to want to focus on her television career and her work in the House of Lords, has been a pioneering figure in football. She was one of the first women to break into a male-dominated industry and held influence in the Premier League.

Brady, 57, said: “It has been a privilege to work alongside the board, management, players, staff and supporters at West Ham United. Together we have achieved remarkable milestones, but the highlight for me will always be lifting the Uefa Europa Conference League trophy – a moment that will stay with me for ever. I am deeply grateful for the relationships, challenges and opportunities that have shaped my time at the club.”

Karren Brady was described by David Sullivan as ‘an exceptional leader and a key figure in the club’s development’. Photograph: Kin Cheung/AP

Kretinsky said: “Her contribution to West Ham United’s growth, such as the long-term contract for the London Stadium, shareholders transition and the British record transfer of Declan Rice, has been absolutely essential and not always fully appreciated. Karren is also very highly appreciated in the Premier League leadership community and was an excellent representative of our club there.”

Brady’s business relationship with Sullivan dates back almost 40 years. She persuaded him to buy Birmingham City and they were reunited at West Ham, who were in financial chaos before being bought by Sullivan and Gold.

Sullivan said: “Karren has been an exceptional leader and a key figure in the club’s development over the years. We wish her every success in her future endeavours and thank her for her outstanding contribution.”