The current Manchester United CEO Richard Arnold will leave his role ahead of Sir Jim Ratcliffe’s imminent arrival as a minority shareholder.
This was contained in a statement released by Manchester United on Wednesday afternoon.
“It has been an incredible privilege to serve this great football club for the past 16 years,” Arnold said.
“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.”
However, Current chief legal counsel Patrick Stewart will replace Arnold as interim CEO.
“Together with my leadership team colleagues, my job will be to ensure that the club’s foundations remain stable while we embrace changes that can make us stronger over the long term, on and off the pitch, and to support the search for a new permanent CEO,” Stewart said.
The development is coming on the heels of Ratcliffe’s £1.3 billion investment for a 25% stake in the club which is close to being finalised.
Ratcliffe is set to become a minority shareholder after a lot of back and forth which followed announcement of the club owners that they would consider “strategic alternatives” including a full sale of accepting minority investment.