Following Sir Jim Ratcliffe’s impending entrance as a minority shareholder, Manchester United are likely to undergo a first phase of organisational restructuring that will include Richard Arnold’s departure as CEO.
Arnold’s departure is not scheduled to be announced to the public until Wednesday; however, United staff members have been notified of it.
Ratcliffe’s £1.3 billion purchase of a 25% share in the team is almost complete. Before the year ends, Arnold plans to depart his role at Old Trafford. Patrick Stewart, who is currently the chief lawyer, will take over as interim chief legal counsel.
According to sources close to ESPN, Ratcliffe is eager to appoint Sir Dave Brailsford, the head of sport at INEOS, putting football director John Murtough’s job in jeopardy.
After being appointed in March 2021, Murtough played a significant role in the choice to appoint Erik ten Hag as coach in 2022.
Ed Woodward relinquished his position as United’s most senior officer to Arnold in February 2022. The New York Stock Exchange will need to be notified of his exit from the club.
Almost a year when the Glazer family, the company’s owners, declared they would explore “strategic alternatives,” such as a complete sale or taking minority expenditures, Ratcliffe is slated to become a minority shareholder.
Once Ratcliffe’s investment is verified, he will have authority over the football division of the company. Joel Glazer, senior co-chairman of United, spoke regarding Arnold’s departure, saying:
“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 endeavours.
“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.”
