Chief Executive Richard Arnold is set to depart from Manchester United at the end of this year, as Ineos chief Sir Jim Ratcliffe, according to English media reports, is on the verge of acquiring 25 percent of the shares.
Arnold has been working at United since 2007 and played a significant role in the commercial growth that the English powerhouse experienced during that period. Last year, the 52-year-old Englishman took over the responsibilities from Vice-Chairman Ed Woodward, who left the club at the end of 2021 after eight years.
English media had already anticipated that the impending takeover of United would have consequences for Arnold's position. Even though the much-criticized Glazer family remains the majority shareholder, Ratcliffe's arrival is leading to changes in the board.
Until United finds a permanent successor, counsel Patrick Stewart will be in charge. English media mention former Juventus director Jean-Claude Blanc as a candidate. It is also not ruled out that Technical Director John Murtough may also have to depart.
So far, there are no indications that the change in ownership at United will have consequences for manager Erik ten Hag. The 53-year-old Haaksbergen native came from Ajax last year and is under pressure due to disappointing performances. Arnold recently expressed confidence in Ten Hag.