Election result could be very bad news for West Ham chief Daniel Kretinsky

It remains to be seen what will happen regarding control of the London Stadium.

The Hammers struck what’s been billed ‘the deal of the century’ when Boris Johnson was London Mayor.

There has been much speculation of late that West Ham could be handed control of the stadium, which continues to make big losses for owners LLDC.

That would then enable the Hammers and vice-chair Karren Brady to go out and secure a naming rights sponsor for the Stratford arena.

It was reported last year that West Ham were open to buying the stadium but attempts to hold talks had ‘fallen on deaf ears’.

The Times’ Chief Sports Reporter Martyn Ziegler then claimed West Ham’s billionaire co-owner Daniel Kretinsky could complete a full takeover of the club AND buy the London Stadium outright.

Those claims were quickly dismissed at the time.

West Ham’s Czech billionaire co-owner’s big plans

In a rare interview recently, secretive Kretinsky said he does want to increase his 27% stake in West Ham.

Although he ruled out a full takeover anytime soon.

One big reason for that is UEFA’s strict multi-club ownership rules given Kretinsky owns his boyhood club Sparta Prague.

Another is his diverse and ever-growing empire of business interests and investements.

Chief among which at the moment is the West Ham co-owner’s whopping and controversial £3.6 billion proposed full takeover of Royal Mail.

Kretinsky’s move is controversial as it will see Royal Mail fall into foreign hands for the first time since it was set up by Henry VIII in 1516.

The proposed takeover – which still requires regulatory approval – comes just over a decade after Royal Mail was listed on the stock market in a major privatisation deal by the Coalition government. That turned sour, though, as the firm was hammered by a collapse in letter-writing and damaging strikes.

Now the General Election result could be very bad news for West Ham chief Kretinsky.

Election result bad news for West Ham’s Kretinsky

Labour are in power for the first time in 14 years after winning the election, and Arsenal fan Sir Keir Starmer will now be the next Prime Minister of the UK.

So why might that be bad news for Kretinsky’s plans?

Because Labour clearly set out in its manifesto that any proposed takeover of Royal Mail would be ‘robustly scrutinised’.

“Royal Mail remains a key part of the UK’s infrastructure,” the Labour manifesto states.

“Labour will ensure that any proposed takeover is robustly scrutinised and that appropriate guarantees are forthcoming that protect the interests of the workforce, customers and the United Kingdom, including the need to maintain a comprehensive universal service obligation.

“Labour will also explore new business and governance models for Royal Mail so that workers and customers who rely on Royal Mail services can have a stronger voice in the governance and strategic direction of the company.”

That may not directly impact West Ham. But anything which inhibits Kretinsky’s business plans clearly might impact his wealth.

Labour win puts fresh scrutiny on Royal Mail takeover

Although even if the Hammers co-owner, dubbed the Czech Sphinx in the business world, doesn’t get his way he should be ok for cash.

Kretinsky recently rose a massive 14 places on the Sunday Times Rich List from 47th to 33rd with a net worth of £6bn.

That’s up £2bn on last year.

Kretinsky’s main sources of income are listed as energy, telecoms, media and football: Royal Mail and J Sainsbury.

So the significance of the Royal Mail takeover to the West Ham man’s business portfolio, wealth and future plans should not be underestimated.

Kretinsky won’t be the only person in the West Ham boardroom unhappy with the election result.

Vice-chair Brady was elevated to the House of Lords as a Conservative life peer, taking the title Baroness Brady.

You can learn more about Kretinsky’s plan to ‘save Royal Mail’ in the video below.

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