Daniel Kretínský is chair of 1890s Holdings (credit: Sky Sports)
Daniel Kretínský, who owns Czech club Sparta Prague, and his colleague Pavel Horský will join the board of directors at the London Stadium.
The deal follows a period of negotiations with West Ham United joint-chairmen David Sullivan and David Gold.
“I am passionate about football,” said Kretínský. “I greatly appreciate and respect the exceptional history and tradition of West Ham United as well as its loyal and passionate supporter base and also the highly inspiring role it plays in many social programmes and initiatives.
“The development and growth of the Club in recent years has been clear for everyone to see and I am delighted to be part of what I believe is a very exciting future ahead.
“Having been to the London Stadium recently to watch David Moyes’ team, I know it is an incredible time to become part of the West Ham United family. I feel privileged to now have the opportunity to help everyone here build on the proud traditions of this great Club.”
The club hopes the agreement will improve its capital structure which will enable it to reduce its long-term debt.
It said this would also allow it to continue to invest in other “key areas of focus” and build on the “positive progress made at West Ham United in recent years”.
Vice-chairman Karren Brady said: “On behalf of the board I am very pleased to welcome Daniel Kretínský, Pavel Horský and 1890s holdings a.s to West Ham United. We are always looking to continue to progress and Daniel’s involvement brings investment which strengthens the club’s position, and in turn will assist in the development of the club’s key areas of focus.
“David Sullivan and David Gold have always been very open about finding the right investors to join them on the journey as custodians of West Ham United, and Daniel’s strong business acumen and football experience will be of huge benefit to the Club. We very much look forward to working with him and Pavel.”
For more on this story, and the latest on our other local and national news, listen to Time 107.5FMTags: Newham, West Ham, Football, Sport, West Ham United
© TIME107.5fm 2015-2021. All rights reserved.