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Former Newcastle United co-owner Amanda Staveley is leading a consortium that has agreed to purchase a 25.1% stake in West Ham United.

The 25.1% holding will be acquired from the Gold family. Vanessa Gold, daughter of former West Ham chairman David Gold, has agreed to sell the family’s shareholding in the club.

Staveley earlier played a key role in the Saudi-backed takeover of Newcastle in 2021. She owned a 10% stake in the Magpies before selling her shares and stepping down from her director’s role in 2024.

An official club statement said: “West Ham United can confirm it is aware of the announcement from Joint-Chair Vanessa Gold that she has reached a provisional agreement to sell her shares to a consortium of PCP Capital Partners, led by Amanda Staveley and Mehrdad Ghodoussi, in partnership with Ashland Forest Capital Partners.

“The proposed transaction will now be subject to a pre-emption rights process. This gives all existing shareholders the opportunity to buy their proportional percentage of shares in round one, and any remaining shares in round two. This process will take approximately two months and, until it is completed, nothing will change regarding the ownership structure of the Club.

“West Ham United would like to assure supporters that the day-to-day running of the football club is in no way affected by this situation. Preparations for the new season continue with diligence and focus, and we thank all fans for their continued loyal support at this time.

“The Club will be making no further comment while the pre-emption process runs its course.”