Nuno Espírito Santo will remain in charge of West Ham United next season, the club confirmed on Wednesday, ending weeks of uncertainty over his future after relegation from the Premier League was confirmed on the final day of the campaign.
The Portuguese coach, who replaced Graham Potter last September, had widely been expected to leave following the 3–0 victory over Leeds that proved insufficient to keep the Hammers up. Instead, after a series of meetings early this week, the board announced that Nuno had “expressed his continued commitment” to the club and that they had offered the same in return. “Nuno made it very clear that he is highly motivated for the challenge of guiding West Ham United back to the top flight at the first time of asking,” the club’s statement read. “That must be the unquestionable goal for next season.”
That outcome masked a division inside the boardroom. Daniel Kretinsky, the Czech billionaire and second-largest shareholder, is understood to have been the driving force behind the decision to keep Nuno, while David Sullivan, the largest shareholder, was less certain. Nuno’s contract, signed on 27 September 2025 for three years, contained a clause allowing the club to dismiss him without compensation following relegation. Conversely, the manager also held the option to walk away. Had he stayed in the Championship, his salary would have been halved from £4.5 million to £2.25 million per year.
Potential replacements had been sounded out. Scott Parker, the former West Ham captain who left Burnley last month and has three promotion campaigns on his CV, was a mooted candidate, alongside Gary O’Neil, currently at Strasbourg, and the former manager Slaven Bilic. But Kretinsky’s preference prevailed, signalling an accelerating shift in the club’s power structure.
Kretinsky’s growing influence
Kretinsky, who already owns Sparta Prague and the Royal Mail, is positioned to increase his stake in West Ham to more than 40 %, matching Sullivan’s control. Both Kretinsky and the Gold family are each poised to buy a portion of the 25.1 % stake left by the late co-owner David Gold, who died in January 2023. Sullivan, who with Gold acquired a 50 % share in January 2010 and later raised it to 60 %, is believed to be considering his own future involvement. Relegation is thought to have affected the value of any deal, though the board’s backing of Nuno is the clearest indication yet that Kretinsky’s influence now outweighs Sullivan’s.
The club’s statement acknowledged the painful outcome but argued that “broader signs of improvement and progress” had been seen in recent months. Nuno inherited a team on three points from Potter, who was sacked on 27 September 2025 after a poor start to the season. West Ham ultimately finished on 39 points – the highest total for a relegated side in a decade – and took the fight to the last day. After Sunday’s win, Nuno had been non-committal, saying: “It’s not about me. We are in a tough place and West Ham has to go back in the Premier League. But now we have to go through this period of sadness, understanding the frustration and anger of the fans.”
Player sales and financial realities
The financial consequences of relegation are severe. West Ham faces projected losses of more than £60 million and is expected to need to raise approximately £150 million through player sales to cover the shortfall. Revenue from Premier League broadcasting deals, previously around £110 million per season, will drop sharply in the Championship.
The club still owes significant funds on previous transfer business, and trading out key assets is regarded as unavoidable. Captain Jarrod Bowen, who turns 30 in December, is a prime candidate to leave. After relegation was confirmed, Bowen said: “I want this club to be in the Premier League. It’s a club that means so much to me. My vision is to get this club back in the Premier League.” The 21-year-old Portuguese midfielder Mateus Fernandes, described as a rare shining light of the season, is also expected to depart. Fernandes joined from Southampton in August 2025 for a fee reported to exceed £40 million, potentially rising to €44 million. With relegation, he is said to be seeking a move rather than play in the Championship; West Ham values him at €65–75 million (£56–65 million), and his price would have been as high as £100 million had the club stayed up. Manchester United and Arsenal are reported to be monitoring his situation.
The club has moved to soften the blow for fans by announcing a reduction of up to 30 % on season ticket prices for the Championship season. A small offset comes from the London Stadium lease: a clause in the agreement reduces the annual rental by £2.5 million upon relegation, a saving estimated by Mayor Sadiq Khan. The stadium’s operating costs are covered by the Greater London Authority under a 99‑year agreement negotiated by former Mayor Boris Johnson, meaning London taxpayers may face increased pressure to make up the shortfall.
West Ham remains liable for portions of the contracts of previous managers. Graham Potter’s deal was believed to run until June 2027, and Julen Lopetegui, who managed only 22 matches before being replaced by Potter, had a contract until June 2026; although Lopetegui has since taken a role with the Qatar national team, the club may still be covering part of his salary. Nuno’s retention, backed by the board and driven by Kretinsky, means the focus now shifts entirely to the rebuild required to return to the top flight at the first attempt.
