Richard Arnold’s departure as Manchester United chief executive was “100 per cent his decision” and not demanded by Sir Jim Ratcliffe, sources have told i.
United announced Arnold’s decision to step down on Wednesday ahead of Ratcliffe’s Ineos group acquiring a 25 per cent stake in the club.
While Ratcliffe intends to wield his influence on the club’s football operations, i has been told a thorough audit of the club will precede any major changes.
Under-fire Arnold has perhaps sensed the way the wind is blowing after a turbulent year at Old Trafford. He will though continue to provide transitional support until the end of the year, with group finance director Patrick Stewart stepping up as interim CEO while the club decide on a permanent replacement.
Stewart is a respected figure in football and has recently attended Premier League and European Club Association meetings on Manchester United’s behalf. He could now be tasked with overseeing the club’s operations in the January transfer window, although Ratcliffe’s minority investment should have been ratified by then.
Ineos are currently finalising the terms of the 25 per cent investment in United with an announcement that a deal has been agreed with the Glazer family expected next week.
Although that will offer much-needed clarity sources point out it will be “weeks or even months” before Ratcliffe and his Ineos team can get their feet under the table.
Next week’s anticipated announcement will be followed by Ineos’ purchase of shares from A-class shareholders, which will run parallel to the Premier League and the Financial Conduct Authority carrying out checks on Ratcliffe.
Because it is only a minority investment, that is not expected to take as long as the full owners and directors tests, but it will prevent Ratcliffe and his team from taking any decisions in the interim period.
The timing of Arnold’s departure feels convenient but it has been stressed to i that the incoming minority owner is not behind it, even if he is keen to make a raft of changes at Old Trafford.
At meetings in March that preceded his takeover bid, Ratcliffe is understood to have been critical of the way the club’s executive team have run Manchester United, questioning not only the club’s recruitment but also the length of time it takes them to complete deals.
Ineos’ trusted head of sport Dave Brailsford is leading the audit into the club’s football operations, which will step up when Ratcliffe’s minority investment is confirmed.
Former Monaco sporting director Paul Mitchell has been tipped for a similar role at Old Trafford while Jean-Claude Blanc, who is the Ineos’ Sport CEO, is in the running to replace Arnold. But sources close to Ratcliffe stress no decisions will be taken hastily.
As i revealed earlier this month, there are no plans to sack Erik ten Hag despite the club’s disappointing form. And Ratcliffe does not intend to rip up the club’s January transfer blueprint either, preferring to take a wider view of club operations before making changes.
“Jim wants to take a look from the inside before making any of those calls. It’s very easy to ask why things happen a certain way or why transfers are so slow, for example, but there may be reasons that have to be taken into account,” a source told i.
“He will want to make changes but it’s not going to be a case of changing everything from day one. He intends to be smart about it and you need to know what it is you’re dealing with first.”
The departure of Arnold will not be especially lamented at Old Trafford.
He has been the club’s CEO since February 2022, consolidating the club’s impressive commercial growth but facing huge criticism for his handling of the Mason Greenwood situation.
Arnold said it had been an “incredible privilege” to work for United: “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.”
Stewart added: “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.”
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