Manchester United have announced that CEO Richard Arnold is to step down from his role with the club as Sir Jim Radcliffe’s 25% purchase of the club comes closer to completion.
The chief executive, who has been at the club for 16 years and replaced Ed Woodward in February 2022, will remain at the club until the end of the year to aid the transition with Patrick Stewart taking over as interim CEO.
It comes as Ineos Group - owned by billionaire Radcliffe - prepares to finalise a minority stake in the club that is expected to give him greater control in the football side of operations.
The deal is expected to be completed in the current international break and has led to some speculation that the future of manager Erik ten Hag could come under increased scrutiny once the new structure is in place, with the former Ajax boss just 3/1 with Paddy Power to be the first Premier League manager sacked this season.
The playing side of things has come under increased scrutiny this season with Manchester United unconvincing domestically - sitting sixth in the league with five defeats in 12 matches - and poor on their return to the Champions League, the lowest point of which came in the 4-3 defeat to FC Copenhagen last week.
Arnold oversaw a challenging period off the field during his time in charge as well as fluctuating results on it, with his handling of the Mason Greenwood and Anthony issues coming in for criticism, and the club suffering the loss of one of their most treasured icons recently with Sir Bobby Charlton passing away.
In a statement on the club website, Arnold said: “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.”