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Czech tycoon buys West Ham stake

Czech tycoon Daniel Kretinsky has acquired a 27 per cent stake in West Ham United.  He will have a seat on the board.   It shows that there is an enduring appetite among overseas investors for Premier League clubs.

He is paying roughly £160m for the stake, valuing the club at roughly £600m or £700m including debt.  West Ham said that the deal would allow it to reduce its long-term debt.

Kretinsky is co-owner of Sparta Prague.   Starting his career in energy he has diversified into other sectors and has stakes in J Sainsbury and Royal Mail.   His fortune is estimated at £2.9 billion.

He could eventually acquire a majority stake in the club leading to profits of £300m for the current owners.

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