Man United CEO Richard Arnold steps down as club seeks new investment

Manchester United has announced that chief executive Richard Arnold has stepped down from his role. Arnold’s departure comes at a time when American owners the Glazers are seeking new investment and British billionaire Jim Ratcliffe is attempting to buy a 25% stake in the 20-time league champions. Patrick Stewart was named as interim CEO. He is also the club's general counsel. Arnold became CEO in Feb. 2022. United said he will offer “transitional support” until the end of December. The club added that it will search for a new permanent CEO. The Glazers announced plans in November to seek new investment and instructed US merchant bank Raine to oversee the process that also included the potential of a full sale.