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Reports indicate that Manchester United will announce the person to take over the club's corporate reins from Ed Woodward in the coming days.
In April, Woodward announced he would be relinquishing his post as executive vice-chairman. This was after a few days after Manchester United abandoned their quest to join the European Super League due to fan backlash.
According to Sky News, Manchester United will name Richard Arnold as Woodward's successor. However, Arnold will assume the title of Chief Executive Officer.
The Red Devils have not had a CEO in their corporate structure since David Gill stepped down in 2013, the same year Sir Alex Ferguson retired. Gill's duties were transferred to Woodward, who is himself set to be succeeded by Arnold, the current Manchester United managing director. Arnord previously served as the commercial director.
In 2005, after acquiring total control of Manchester United by purchasing 98% of the club's shares, the Glazers heaped £525m in personal debt onto the club to repay.
It marked the start of a fractured relationship with Manchester United fans, some of whom formed FC United of Manchester, a breakaway club now in the seventh-tier of the English football pyramid.
Ed Woodward has overseen a decline at Manchester United
Woodward has often been a controversial figure and is seen as the pointman of the Glazer family's turbulent ownership of the Manchester club.
During his reign, Manchester United have spent over £1bn to buy the likes of Paul Pogba and pay lucrative salaries but have failed to win the Premier League. The closest they came to lifting the trophy was a 2nd position in 2017/2018 and 2020/2021.
They have also failed to post good results in the Champions League, often bowing out before reaching the quarters between 2015 and 2020.
In 2018 it was reported that since 2005, the Glazers have taken out more than £1bn from Manchester United's coffers through interest, expenses, fees and dividends .
The latest high-profile run-in with fans saw Manchester United pull out of the now defunct European Super League and left the Glazers with egg on their faces.
Following the controversy, co-chairman Joel Grazer was forced to issue a public apology amidst fan pressure to sell up.
He addressed fans in an open letter:
"We continue to believe that European football needs to become more sustainable throughout the pyramid for the long-term. However, we fully accept that the Super League was not the right way to go about it," Joel Glazer said.
"In seeking to create a more stable foundation for the game, we failed to show enough respect for its deep-rooted traditions - promotion, relegation, the pyramid - and for that we are sorry."
According to a source close to the events at Old Trafford, Arnold's ascendancy to the new role will trigger some changes to the way the New York Stock Exchange-listed company operates. The source also revealed that Woodaward will take up a behind-the-scenes consultancy role for a few months.
