Manchester United takeover news live Richard Arnold exit confirmed plus Man Utd transfer latest

It may be the international break but it was a newsworthy Wednesday as it was announced Manchester United chief executive Richard Arnold is set to leave the club by the end of the year.

The 52-year-old was always expected to depart once Sir Jim Ratcliffe's bid to buy a 25 per cent stake in the club was made official, with the deal expected to be ratified during November's international break.

United are yet to confirm Ratcliffe’s proposed £1.3billion investment, but Arnold's departure is one of a number of changes expected as part of the British billionaire's review of the current sporting structure in place.

“It has been an incredible privilege to serve this great football club for the past 16 years," a statement from Arnold read. "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.”

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Arnold and Woodward are friends, the pair both graduated from Bristol University and they share the same background in finance. They are Glazer acolytes.

Neither man should have found themselves with such power at United but a new era is now on the horizon.

Arnold replaced Woodward as the club's kingmaker in February 2022 when he was appointed as CEO, but he's spent just 21 months in that role and his expected departure was confirmed on Wednesday morning.

With Arnold on his way out, United were in need of an interim appointment as CEO and they have turned to Stewart.

While he has only taken on the role on a temporary basis, he will still be tasked with steering the ship at United in a time of upheaval.

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