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Edited by Samiksha at 26-12-2023 12:57 PM
Manchester United fans' long-awaited wish for a change in ownership has finally come true. With Sir Ratcliffe officially acquiring 25% of Manchester United's shares, he has embarked on a reform journey. His first move was to dismiss the current CEO, signaling his commitment to real change.
After over a year of negotiations, Sir Ratcliffe's British Powerhouse Group successfully purchased 25% of Manchester United for £1.3 billion, gaining full operational control of the football aspect. The Glazer family, the former owners, will now step back and handle commercial operations. The agreement was quickly realized, and on Sir Ratcliffe's first day in office, he promptly ousted Manchester United CEO Richard Arnold.
Arnold's tenure as CEO lasted only 19 months, and his football operations received consistent criticism. High-priced signings failed to live up to expectations, and Manchester United often overpaid in deals, resulting in many players being considered flops. Sir Ratcliffe's decision to remove Arnold was attributed to his lack of vision and negotiation skills. Besides Arnold, the future of Manchester United's Football Director Muthu and Football Operations Director Harrison is uncertain, making them potential candidates for departure.
As for the new appointment, Sir Ratcliffe already has a target in mind. According to French outlet Foot Mercato, Sir Ratcliffe plans to appoint British Powerhouse CEO Jean-Claude Blanc as the new CEO of Manchester United. Blanc has previously worked with Paris Saint-Germain and Juventus before joining the British Powerhouse Group. The new boss is making swift changes, undoubtedly driven by his own vision and ambitions. The actual results, however, will require some time to be validated. |
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