Joel Glazer reacts as Richard Arnold makes Man Utd decision plus next steps
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Richard Arnold has been reacting after taking the decision to step down as chief executive at Manchester United, leaving his role in December.
It comes as Sir Jim Ratcliffe closes in on his partial 25% takeover of the club. The club has announced Patrick Stewart will take over as interim CEO, in addition to his existing role as General Counsel.
Manchester World understands Arnold leaves on good terms after 16 years at the club, while the interim appointment allows time for a thorough process for the next CEO.
It comes as Sir Jim Ratcliffe’s partial takeover of Manchester United is expected to be agreed before the club’s next game, a trip to Everton on 26 November.
What has Joel Glazer, Man Utd executive co-chairman said?
“I would like to thank Richard for his outstanding service to Manchester United over the past 16 years, and wish him all the best for his future endeavours. We are fortunate to be able to call on the deep knowledge and experience of Patrick Stewart to provide interim stability and continuity as we embark on a search for a new permanent CEO.”
What have Richard Arnold, outgoing CEO, and Patrick Stewart said?
Arnold said: “It has been an incredible privilege to serve this great football club for the past 16 years. 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 said: “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.”
Latest on Sir Jim Ratcliffe deal?
Ratcliffe and his Ineos consortium are in the final stages of the negotiations for him to purchase 25 percent of the club’s shares for a fee of around £1.3bn. Once that is agreed, the deal will need to be ratified with the Premier League while there will also be a gap in order to comply with public company regulations.