By Knowladgey Team
November 16, 2023
Chief Executive Richard Arnold, departing after 16 years, played a pivotal role in the club's commercial endeavors, overseeing significant sponsorships and the appointment of manager Erik ten Hag.
With anticipation building, Sir Jim Ratcliffe's Ineos Group is on the verge of acquiring a 25% ownership stake in Manchester United, a transformative deal estimated at £1.25 billion.
In the interim, Patrick Stewart, the current general counsel, steps in as the interim CEO, ensuring stability and continuity. Stewart will guide the club until a new permanent CEO is appointed.
Richard Arnold expresses gratitude for his 16-year tenure, acknowledging the dedication of employees and fans. Joel Glazer thanks Arnold for his service and expresses confidence in Patrick Stewart's interim leadership.
As the completion of Sir Jim Ratcliffe's minority ownership agreement nears, the football community anticipates significant changes with Ineos Group acquiring a 25% stake and substantial control over Manchester United's footballing operations.
Richard Arnold's departure occurs amidst challenges, including a challenging start to the 2023-24 season and fan dissatisfaction. The appointment of a new CEO and Sir Jim Ratcliffe's ownership stake represent transformative changes for Manchester United's future.