CEO Richard Arnold is set to leave the club by the end of the year.
Arnold replaced Ed Woodward as the club’s chief executive in 2021 and was instrumental in the appointment of .
However, he’s taken criticism for his handling of the situation.
is set to be announced as a minority shareholder this week, with the billionaire spending £1.4bn to take a 25% stake in the club.
Ratcliffe will take control of football operations, and it appears he’s been ruthless in dismissing Arnold.
‘It has been an incredible privilege to serve this great football club for the past 16 years,’ said Arnold.
‘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.’
Executive co-chairman, Joel Glazer, thanked Arnold for his ‘service’.
‘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,’ said Joel.
‘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.’
A further announcement over Ratcliffe’s investment will be made in due course but it’s clear that the 71-year-old has already got to work at Old Trafford.
As well as his £1.4bn investment, Ratcliffe will pledge a further £245m in upgrading United’s stadium and training ground.
United fans will hope an announcement is in place before the January transfer window, when Ratcliffe will expect to make his mark on the club.
Patrick Stewart, the club’s general counsel, will stand in as interim CEO as Ratcliffe and the Glazers weigh up a long-term replacement.
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