Richard Arnold, the chief executive of Manchester United, has stepped down with Sir Jim Ratcliffe set to complete his deal for a minority stake in the club.
Arnold succeeded Ed Woodward in the role at Old Trafford in February 2022 after 15 years with the Premier League clubs.
He departs with confirmation expected imminently of British billionaire Ratcliffe’s completion of the purchase of a 25 per cent stake.
Ratcliffe had been among the bidders to purchase Manchester United from the Glazer family but has now negotiated an agreement worth about £1.3bn.
Patrick Stewart, currently legal counsel and a member of the board at Manchester United, is expected to take the CEO role on an interim basis.
Ratcliffe is likely to make further changes once his deal has been confirmed.
Sir Jim Ratcliffe is close to completing a deal to become a minority shareholder at Manchester United
(PA Wire)
Sir David Brailsford, the former performance director of British Cycling, could have a key role.
Brailsford has worked closely with Ineos chairman Ratcliffe both with the Ineos Grenadiers cycling team and at Ligue 1 club OGC Nice.
More to follow…