The chief executive of Manchester United Football Club is to leave after just two years in the job as its owners finalise the sale of a minority stake to the petrochemicals billionaire Sir Jim Ratcliffe.
Sky News has learnt that the Old Trafford club will announce to the New York Stock Exchange later on Wednesday that Richard Arnold is to step down by the end of the year.
He will hand over operational control of the club immediately and will be replaced as interim CEO by Patrick Stewart, who will also retain his role as general counsel.
The shake-up in United’s leadership will come just days before the club is expected to confirm Sky News’ exclusive revelations that Sir Jim’s Ineos Sports is acquiring a 25% stake.
Image: Manchester United chief executive Richard Arnold
Mr Arnold has been with the Red Devils since 2007, replacing Ed Woodward in the top executive job early last year.
Insiders said he had succeeded in modernising the structure of United’s football operations, even as the men’s first team struggles in domestic and European competitions under manager Erik Ten Hag.
Under Mr Arnold, United won its first trophy in six years by beating Newcastle United to win the Carabao Cup, and delivered industry-leading commercial deals with Adidas and Qualcomm.
The last year has, however, been one of turbulence amid ongoing uncertainty about the club’s future ownership.
A strategic review was initiated by the Glazer family almost a year ago, although it is expected to be resolved next week with confirmation of Sir Jim’s arrival.
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Mr Stewart has been at United for 17 years, and already leads its liaison with governing and representative bodies including the Premier League and UEFA.
One source said his appointment as interim CEO would allow United’s new joint owners to identify the right long-term candidate to run the club.
Sky News revealed earlier this month that Sir Jim is to commit $300m (£245m) from his multibillion pound fortune to overhauling United’s ageing infrastructure, in addition to the roughly £1.3bn he will spend on acquiring a 25% stake.
Image: Sir Jim Ratcliffe is seen outside Old Trafford
The funds will be financed by Sir Jim personally and will not add to Manchester United’s existing borrowings.
Reports in recent weeks have suggested that the billionaire will take immediate control of football matters at the club, alongside Ineos Sports colleagues including Sir Dave Brailsford, the former cycling supremo.
Many United fans have expressed disquiet at the prospect of Sir Jim buying a minority stake given that it paves the way for the Glazers’ continued control.
The family, who paid just under £800m to buy the club in 2005, has remained inscrutable throughout the process and has said nothing of substance to the NYSE since the process of engaging with prospective buyers kicked off.
Earlier iterations of Sir Jim’s offers for the club, which focused on gaining outright control, included put-and-call arrangements that would become exercisable three years after a takeover to enable him to buy out the remainder of the club’s shares.
The Monaco-based billionaire, who owns the Ligue 1 side Nice, pitched a restructured deal last month in an attempt to unblock the ongoing impasse over United’s future.
In addition to the competing bids from Sir Jim and Sheikh Jassim, the Glazers received several credible offers for minority stakes or financing to fund investment in the club.
These include an offer from the giant American financial investor Carlyle; Elliott Management, the American hedge fund which until recently owned AC Milan; Ares Management Corporation, a US-based alternative investment group; and Sixth Street, which recently bought a 25% stake in the long-term La Liga broadcasting rights to FC Barcelona.
Part of the Glazers’ justification for attaching such a huge valuation to the club resides in the possibility of it gaining greater control in future of its lucrative broadcast rights, alongside a belief that arguably the world’s most famous sports brand can be commercially exploited more effectively.
United’s New York-listed shares have gyrated wildly in recent months as reports have suggested that either a deal is close or that the Glazers were about to formally cancel the sale process.
The Glazers’ tenure has been dogged by controversy and protests, with the absence of a Premier League title since Sir Alex Ferguson’s retirement as manager in 2013 fuelling fans’ anger at the debt-fuelled nature of their takeover.
Fury at its proposed participation in the ill-fated European Super League project in 2021 crystallised supporters’ desire for new owners to replace the Glazers.
Confirming the launch of the strategic review last November, Avram and Joel Glazer said: “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1bn fans and followers.
“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the club today and in the future.”
The Glazers listed a minority stake in the company in New York in 2012.
“Love United, Hate Glazers” has become a familiar refrain during their tenure, with supporters critical of a perceived lack of investment in the club, even as the owners have reaped large dividends as a result of its ability to generate sizeable profits.
Manchester United declined to comment on Mr Arnold’s departure.
It’s like The Godfather, one reformed drug trafficker tells me.
The mythical gangster film centred on an organised crime dynasty locked in a transfer of power.
Communities in Scotland currently have a front row seat to a new war of violence, torture, and taunts as feuding drug lords and notorious families grapple for control of Glasgow and Edinburgh.
There have been more than a dozen brutal attacks over the past six weeks – ranging from fire bombings to attacks on children and gun violence.
Image: A firebomb attack in Scotland
Victims left for dead, businesses up in flames
Gangsters have filmed themselves setting fire to buildings and homes connected to the associates and relatives of their bitter rivals.
The main aim, they boast, is to “exterminate” the opposition.
The taunting footage, accompanied by the song Keep On Running by The Spencer Davis Group, has been plastered over social media as part of a deliberate game of goading.
Garages and businesses have gone up in flames. Shots were fired at an Edinburgh house.
Signals are being sent of who wants control of Scotland’s dark criminal underworld.
Image: A firebomb attack that saw a man throw an incendiary device through a building window
Image: The fire attack set to the song Keep On Running by The Spencer Davis Group
What’s caused the gang war?
The former director of the Scottish Crime and Drug Enforcement Agency, Graeme Pearson, explains how a “vacuum of leadership” is playing a part.
Last October, Glasgow-based cocaine kingpin Jamie Stevenson, known as The Iceman, was jailed after orchestrating a £100m cocaine shipment stashed in banana boxes from South America.
The mob leader was one of Britain’s most wanted, running his business like another on-screen criminal enterprise: The Sopranos.
The 59-year-old fugitive went on the run before eventually being hunted and apprehended by police while out jogging in the Netherlands.
Image: Jamie Stevenson. Pic: Police Scotland
Image: Pic: Crown Office
‘Old scores to settle’
But paranoia was running rife about how this notorious gangster could be brought down. Was there a grass? Was it one of their own?
It further fuelled divisions and forced new alliances to be forged across Scotland’s organised criminal networks.
It wasn’t until The Iceman case came to court that it was revealed an encrypted messaging platform, known as EncroChat, had been infiltrated by law enforcement.
It ultimately led to Stevenson pleading guilty.
Ex-senior drug enforcement officer Mr Pearson told Sky News: “It is a complex picture because you have got people who are in prison who still want to have influence outside and look after what was their business.
“On the outside you’ve got wannabes who are coming forward, and they think this is an opportunity for them, and you have got others have old scores to settle that they could not settle when crime bosses were around.”
Mr Pearson describes a toxic mix swirling to create outbursts of violence unfolding in Scotland.
He concluded: “All that mixes together – and the greed for the money that comes from drugs, and from the kudos that comes from being a ‘main man’, and you end up with competition, violence, and the kind of incidents we have seen over the past four to six weeks.”
New wave of violence ‘barbaric’
Glasgow man Mark Dempster is a former addict, dealer, and drug smuggler who is now an author and respected counsellor helping people quit drinking and drugs.
He describes the “jostle for power” as not a new concept among Glasgow’s high profile gangland families.
Image: Mark Dempster
“There is always going to be someone new who wants to control the markets. It is like The Godfather. There is no difference between Scotland, Albania, or India,” he said.
Mr Dempster suggests a shift in tactics in Glasgow and Edinburgh in recent weeks, with 12-year-olds being viciously attacked in the middle of the night.
“It is barbaric. When young people, children, get pulled into the cross fire. It takes it to a different level.
“At least with the old mafiosa they had an unwritten rule that no children, no other family members. You would deal directly with the main people that were your opposition.”
Police Scotland is racing to get control of the situation, but declined to speak to Sky News about its ongoing operation.
It has been suggested 100 officers are working on this case, with “arrests imminent”.
But this is at the very sharp end of sophisticated criminal empires where the police are not feared, there are fierce vendettas and, clearly, power is up for grabs.
Laws may need to be strengthened to crack down on the exploitation of child “influencers”, a senior Labour MP has warned.
Chi Onwurah, chair of the science, technology and innovation committee, said parts of the Online Safety Act – passed in October 2023 – may already be “obsolete or inadequate”.
Experts have raised concerns that there is a lack of provision in industry laws for children who earn money through brand collaborations on social media when compared to child actors and models.
This has led to some children advertising in their underwear on social media, one expert has claimed.
Those working in more traditional entertainment fields are safeguarded by performance laws,which strictly govern the hours a minor can work, the money they earn and who they are accompanied by.
The Child Influencer Project, which has curated the world’s first industry guidelines for the group, has warned of a “large gap in UK law” which is not sufficiently filled by new online safety legislation.
Image: Official portrait of Chi Onwurah.
Pic: UK Parlimeant
The group’s research found that child influencers could be exposed to as many as 20 different risks of harm, including to dignity, identity, family life, education, and their health and safety.
Ms Onwurah told Sky News there needs to be a “much clearer understanding of the nature of child influencers ‘work’ and the legal and regulatory framework around it”.
She said: “The safety and welfare of children are at the heart of the Online Safety Act and rightly so.
“However, as we know in a number of areas the act may already be obsolete or inadequate due to the lack of foresight and rigour of the last government.”
Victoria Collins, the Liberal Democrat spokesperson for science, innovation and technology, agreed that regulations “need to keep pace with the times”, with child influencers on social media “protected in the same way” as child actors or models.
“Liberal Democrats would welcome steps to strengthen the Online Safety Act on this front,” she added.
‘Something has to be done’
MPs warned in 2022 that the government should “urgently address the gap in UK child labour and performance regulation that is leaving child influencers without protection”.
They asked for new laws on working hours and conditions, a mandate for the protection of the child’s earnings, a right to erasure and to bring child labour arrangements under the oversight of local authorities.
However, Dr Francis Rees, the principal investigator for the Child Influencer Project, told Sky News that even after the implementation of the Online Safety Act, “there’s still a lot wanting”.
“Something has to be done to make brands more aware of their own duty of care towards kids in this arena,” she said.
Dr Rees added that achieving performances from children on social media “can involve extremely coercive and disruptive practices”.
“We simply have to do more to protect these children who have very little say or understanding of what is really happening. Most are left without a voice and without a choice.”
What is a child influencer – and how are they at risk?
A child influencer is a person under the age of 18 who makes money through social media, whether that is using their image alone or with their family.
Dr Francis Rees, principal investigator for the Child Influencer Project, explains this is an “escalation” from the sharing of digital images and performances of the child into “some form of commercial gain or brand endorsement”.
She said issues can emerge when young people work with brands – who do not have to comply with standard practise for a child influencer as they would with an in-house production.
Dr Rees explains how, when working with a child model or actor, an advertising agency would have to make sure a performance license is in place, and make sure “everything is in accordance with many layers of legislation and regulation around child protection”.
But, outside of a professional environment, these safeguards are not in place.
She notes that 30-second videos “can take as long as three days to practice and rehearse”.
And, Dr Rees suggests, this can have a strain on the parent-child relationship.
“It’s just not as simple as taking a child on to a set and having them perform to a camera which professionals are involved in.”
The researcher pointed to one particular instance, in which children were advertising an underwear brand on social media.
She said: “The kids in the company’s own marketing material or their own media campaigns are either pulling up the band of the underwear underneath their clothing, or they’re holding the underwear up while they’re fully clothed.
“But whenever you look at any of the sponsored content produced by families with children – mum, dad, and child are in their underwear.”
Dr Rees said it is “night and day” in terms of how companies are behaving when they have responsibility for the material, versus “the lack of responsibility once they hand it over to parents with kids”.
Police investigating the disappearance of a woman in South Wales have arrested two people on suspicion of murder.
Paria Veisi, 37, was last seen around 3pm on Saturday 12 April when she left her workplace in the Canton area of Cardiff.
She was driving her car, a black Mercedes GLC 200, which was later found on Dorchester Avenue in the Penylan area on the evening of Tuesday 15 April.
South Wales Police said it was now treating her disappearance as a murder investigation.
A 41-year-old man and a 48-year-old woman, both known to Ms Veisi, have been arrested on suspicion of murder and remain in police custody.
Detective Chief Inspector Matt Powell said he currently had “no proof that Paria is alive”.
The senior investigating officer added: “[Ms Veisi’s] family and friends are extremely concerned that they have not heard from her, which is totally out of character.
“Paria’s family has been informed and we are keeping them updated.
“We have two people in custody, and at this stage we are not looking for anybody else in connection with this investigation.
“Our investigation remains focused on Paria’s movements after she left work in the Canton area on Saturday April 12.
“Extensive CCTV and house-to-house inquiries are being carried out by a team of officers and I am appealing for anybody who has information, no matter how insignificant it may seem, to make contact.”