Man United's CEO resigns as Ratclliffe's arrival is now imminent
Reading Time: 2min | Wed. 15.11.23. | 15:21
It is expected that United's new minority shareholder will appoint his own man to the executive role
Sir Jim Ratcliffe is not officially in Manchester United yet but his arrival is imminent, at least if you look at the club's latest statement. It was reported a while ago that when he takes over as a minority owner with 25% shares, he will be in charge of the sporting sector and will make a serious of changes, some of them personal. And today it became official, as Manchester United announced that their chief executive Richard Arnold will leave the club at the end of the 2023.
Richard Arnold has decided to step down as Chief Executive of Manchester United after 16 years at the club.#MUFC
— Manchester United (@ManUtd) November 15, 2023
“It has been an incredible privilege to serve this great football club for the past 16 years. Through highs and lows, the constant has been the dedication of our employees and fans. I would like to thank all of them for their loyalty and commitment, and wish everyone associated with the club the very best for the future” said Arnold in a statement for the club's website. He replaced Ed Woodward as United's top executive in February last year, so he has spent less than a year on that function. He previously was managing director.
His successor will be Patrick Stewart, Manchester United's general counsel, but only as an interim CEO. It is believed that Ratcliff will apoint his favorite when he finally arrives at the club.
“Together with my leadership team colleagues, my job will be to ensure that the club’s foundations remain stable while we embrace changes that can make us stronger over the long term, on and off the pitch, and to support the search for a new permanent CEO” he said.
Ratcliffe's INEOS Group is expected to pay about 1.25 billion pounds for a minority stake in the Old Trafford club, while also acquiring significant control over footballing operations. The BBC said the deal was expected to be ratified during the current international break, possibly as early as this week. The deal is likely to lead to a major shake-up of United's football operations. Dave Brailsford, the former performance director of British Cycling, is expected to have significant influence in his role as INEOS's director of sport.
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