Sports
Juventus set to land Manchester United chief
The arrival of Sir Jim Ratcliffe as Manchester United co-owner is set to inspire a chain of events at the club, and according to new reports, that could mean the exit of a certain Man United boss.
Reports indicate that Richard Arnold, the CEO of Manchester United, is poised to step down from his position by the year-end, as per sources familiar with the matter.
An official announcement regarding Arnold’s departure is anticipated to be made later today, coinciding with the impending confirmation of Sir Jim Ratcliffe’s acquisition of a 25% stake in the club.
Jean-Claude Blanc, presently overseeing INEOS Sport’s portfolio and serving as Juventus CEO, emerges as a leading contender to succeed Arnold at Old Trafford, according to insiders familiar with the club’s deliberations.
To manage the transition, Patrick Stewart, currently the club’s general counsel, is slated to assume the interim CEO role alongside his existing responsibilities.
Arnold has been at the helm of Manchester United as CEO since February 2022, succeeding Ed Woodward in the pivotal role.
His impending departure follows a period of uncertainty surrounding the club’s ownership, with an imminent announcement expected next week on this front.
Sir Jim Ratcliffe, a prominent British billionaire, is nearing the completion of his acquisition of Manchester United. This bid successfully prevailed against competition from Qatari banker Sheikh Jassim, who withdrew his offer after facing rejection from the Glazers, the club’s American proprietors.
Ratcliffe’s proposed purchase entails a staggering £1.4 billion for a 25% stake in the renowned football club. However, this minority ownership stake still necessitates ratification by a 12-person board, among whom Arnold is a key member.
Arnold’s impending exit from the CEO position coincides with an imminent change in ownership dynamics, ushering in a new chapter for Manchester United amidst significant shifts at the executive level.
