Manchester United CEO Leaves After 16 Years

Manchester United chief executive, Richard Arnold, has announced his exit from the club after 16 years at Old Trafford.

The decision of Richard Arnold to leave Manchester United came amid reports that Sir Jim Ratcliffe’s push for a 25% stake in the club is on the verge of being implemented.

Jim Ratcliffe’s 25 percent stake is worth £1.25 billion, a minority stake in United. The purchase is fronted by Ratcliffe’s Ineos Group of company.

Recall that Arnold, 52, replaced Ed Woodward in February 2022 and will provide “transitional support” until the end of December.

“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.” Richard Arnold said.

General counsel Patrick Stewart will take over as Manchester United’s CEO in the interim while the club searches for a long-term replacement.

Stewart oversaw all legal and regulatory matters for the club as general counsel. In addition, he recently represented United in meetings of the European Clubs’ Association and the Premier League.

The duration of his new, temporary role is unknown because of the impending changes at Old Trafford.

The co-chairman of Manchester United, Joel Glazer said: “I would like to thank Richard for his outstanding service to Manchester United over the past 16 years and wish him all the best for his future endeavors.

“We are fortunate to be able to call on the deep knowledge and experience of Patrick Stewart to provide interim stability and continuity as we embark on a search for a new permanent CEO.”