CZECH billionaire Daniel Kretinsky has reportedly signed a deal that could open the door to a full takeover of West Ham.
At the time it was thought there was a belief the businessman would take his time getting used to life in the Premier League before upping his interest.
But documents lodged at Companies House show a deal has already been signed by Kretinsky and Sullivan to buy a controlling stake at an already agreed rate – valuing the London club around £650m.
The ‘Put and Call’ agreement is mentioned several times in new articles of association lodged by the club’s parent company WH Holding Ltd on November 23.
It shows the terms of a takeover are already sealed, with 46-year-old Kretinsky having an unspecified time to complete the deal before it expires.
In reality, the complete takeover is unlikely to take place any time before the end of March 2023, due to the terms of the leasing agreement the club struck when they moved to the London Stadium.
Given the valuation of around £650m, if they sold before that date then they would be liable to pay the London Legacy Development Corporation – owners of the stadium – a £70m premium.
Once that date passes, however, no monies would be due.