An investment group from the Czech Republic has bought a 27% stake in West Ham, the Premier League club said Wednesday.
Daniel Kretnsk, the chairman of 1890s holdings a.s, and his colleague Pavel Horsk have become members of West Ham's board as a result of the acquisition.
Co-chairmen David Gold and David Sullivan have controlled West Ham since 2010 and the club has made impressive strides in recent years under manager David Moyes, with the team currently in third place in the Premier League after its 3-2 win over Liverpool on Sunday.
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," said Kretnsk, who is the co-owner of Czech soccer team Sparta Prague.
"I feel privileged to now have the opportunity to help everyone here build on the proud traditions of this great club.
West Ham said the deal will initially enable the reduction of its long-term debt and the ability to continue to direct funds generated into other key areas of focus, continuing the positive progress made at West Ham United in recent years.
Two of West Ham's best players, Tomas Soucek and Vladimir Coufal, are Czech Republic internationals.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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