Manchester United have confirmed that CEO Richard Arnold has decided to resign. Patrick Stewart will take over as interim CEO, with Arnold continuing to provide interim support until the end of December.Mr Arnold’s departure comes as the sale of a minority stake to Sir Jim Ratcliffe approaches.
Wednesday 15 November 2023, UK, 12:13
Manchester United CEO Richard Arnold will leave the club by the end of the year.
Mr Arnold will step down after just two years at the club as United’s owners finalize the sale of a minority stake to petrochemical billionaire Sir Jim Ratcliffe.
He will take over management of the club with immediate effect and will be replaced by Patrick Stewart, who will serve as interim CEO and will also retain his role as general counsel.
The shake-up in United’s management comes just days before the club is expected to confirm exclusively to Sky News that Mr Ratcliffe’s Ineos Sports is taking a 25% stake.
Arnold has been at United since 2007, having replaced Ed Woodward as chief executive early last year.
Executive co-chairman Joel Glazer said: “I would like to thank Richard for his outstanding contribution to Manchester United over the past 16 years and wish him all the best in his future endeavors. Patrick Stewart’s deep knowledge and experience will be a great asset to our team. , will provide interim stability and continuity as we begin the search for a new permanent CEO.”
Arnold added: “It has been an incredible honor to serve this great football club for the past 16 years. Through good times and bad, one thing that has remained constant has been the dedication of our employees and fans. I would like to thank everyone for their loyalty.” And I wish everyone involved with the club the best for the future. ”
Officials said Erik ten Hag had successfully modernized United’s football management structure despite the men’s first team struggling in domestic and European competitions.
Under Arnold, United won their first trophy in six years by beating Newcastle in the Carabao Cup and signed industry-leading commercial deals with Adidas and Qualcomm.
However, the past year has been a tumultuous one, with continued uncertainty regarding the club’s future ownership.
The strategic review was initiated by the Glazer family almost a year ago and is expected to be resolved next week with Ratcliffe’s arrival confirmed.