West Ham’s board are split on Nuno Espírito Santo’s future, opening the possibility of the manager staying after relegation from the Premier League.

Nuno was called in for crisis talks on Monday and a decision is expected before the end of the week. It remains likely West Ham will part company with the Portuguese, although the situation is not as straightforward as first appeared. A source said that Daniel Kretinsky, the Czech billionaire and the club’s second-largest shareholder, wants Nuno to stay. David Sullivan, the largest shareholder, is said to be less sure.

Kretinsky has a deal lined up to increase his stake and match Sullivan’s control of the club. The co-owners are each poised to buy a portion of the Gold family’s 25.1% stake, which would leave them sharing power in the boardroom. It is thought relegation will affect the value of the deal.

Sullivan has been the most influential figure at West Ham for 16 years but has been blamed for the team’s slide into the Championship and faced abuse from supporters during last Sunday’s win over Leeds.

One source said there was a 50-50 chance of Sullivan deciding to sell up after relegation. But the 77-year-old’s involvement in talks with Nuno suggests he intends to stay. Sullivan is also understood to be involved in discussions over how to rebuild West Ham’s squad and get the team ready to push for promotion. Nuno was hired on a three-year deal after replacing Graham Potter in September.

The contract contained a clause that allows West Ham to sack the 52-year-old without paying compensation. Nuno is also free to walk away, and his desire to stay and manage in the Championship will be a factor in the decision over his future. Scott Parker, Slaven Bilic and Gary O’Neil are potential replacements.

West Ham’s captain, Jarrod Bowen, has apologised to fans for a relegation that has come three years after the club won the Conference League in Prague. “It’s hard to post something like this when all you’re feeling is embarrassment and pain,” he said on Instagram. “I could write loads trying to explain where it all went wrong this season, but honestly what you deserve from me is an apology. Winning that trophy in Prague was the best night of my career. Sunday was the worst. We just weren’t good enough. Simple as that.”