Senior West Ham figures have criticised Staveley, saying ownership uncertainty lingered from mid-summer past a crucial transfer deadline, undermining the club’s push for an immediate Premier League return.
Under the arrangement, Sullivan’s stake will rise from 38.8% to 40%, despite his resignation as chairman in June. He has pledged to contest claims made in a joint BBC Panorama and Times investigation.
Co-chair Vanessa Gold had previously agreed to sell part of her holding to Kretinsky after the allegations against Sullivan became public.
However, earlier this summer she announced a deal to sell her entire stake to Staveley.
That move triggered West Ham’s complex pre-emption rights, giving existing directors first refusal on any major share sale.
Another major shareholder, Tripp Smith, will increase his stake to 11%, with the remaining shareholders, including Gold, holding a combined 3%.
Gold said her aim throughout was to ensure the club had the right leadership so West Ham could fulfil its potential and reclaim its Premier League place.
She thanked Amanda Staveley and her partners for their involvement and the passion they showed for West Ham during the process.
Gold added that it had been an honour to serve as joint chair and director, continuing the legacy of her father, David Gold.
She said she would remain a small shareholder and, above all, a dedicated Hammers supporter, wishing Daniel and the new leadership success and thanking fans for their continued support and kindness.
Sullivan’s position at West Ham is already under review by the independent football regulator (IFR), and this latest development is not expected to prompt further examination.
An IFR spokesperson said its enquiries into Sullivan’s suitability under the ODSE regime remain active and that it is liaising with relevant authorities as part of the process.
Both Kretinsky and West Ham say they will not comment further until the deal’s formalities are completed, which is expected within a month.