Daniel Kretinsky has reached an agreement to become the largest single shareholder in West Ham.
A statement on behalf of the Czech businessman confirmed an agreement had been reached among West Ham shareholders for him to acquire shares which would increase his stake to 46%.
Under the agreement, David Sullivan now holds 40% as the second-largest shareholder, with Tripp Smith holding 11%.
A consortium featuring former Newcastle director Amanda Staveley had struck a deal to purchase the Gold family's 25% stake in the club, but that sparked a process allowing existing shareholders the opportunity to buy the Gold family shares.
Kretinsky said: "I am deeply honoured to have the opportunity to become the largest shareholder of this great club.
"I appreciate the responsibility this brings and do not take it lightly. I would like to thank all continuing shareholders for their constructive efforts to enable this outcome and provide the club with the certainty it needs at this critical time.
"I look forward to communicating further with our supporters once the transactions are complete."
Vanessa Gold, representing the Gold family, said: "I am pleased that the West Ham shareholders have reached an agreement, with Daniel Kretinsky becoming the largest shareholder and taking a more active role in the decision-making at the club, as well as giving certainty to our fans and clarity over the future.
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"My ambition through this process has been to ensure the club had the right leadership and to enable West Ham to achieve its potential and return to its rightful place in the Premier League.
"This agreement, which was first outlined back in June, provides that stability, allowing the club and its management to continue to focus on the football season.
"I want to thank Amanda Staveley and her partners for their engagement in this process and the passion they've shown for West Ham throughout.
"It has been an honour to serve the club as joint chair and director and to continue the legacy of my father David Gold. I will remain a small shareholder, but more importantly, I will forever be a passionate Hammers fan. I wish Daniel and the new leadership every success and thank our fans for their ongoing support and kindness."
