Man Utd's strategic review ongoing, Arnold tells staff

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Manchester United’s chief executive Richard Arnold told an all-staff meeting on Monday that the strategic review over the future of the club remains ongoing, urging staff to “hang tight and be resilient”. In November last year, the club’s owners the Glazer family announced they were “commencing a process to explore strategic alternatives for the club.” A club statement said the United board would consider “new investment into the club, a sale, or other transactions involving the company”, hiring the Raine Group as United’s financial advisor...

The open forum, however, went broader as staff grasped the opportunity to grill their boss on wider issues blighting the club. Submissions were made anonymously by staff members, which empowered employees to ask more searching questions.In a sign that the club’s rank and file are growing concerned about the takeover uncertainty, a staff member asked a question asking whether there needs to be a resolution for the “wellbeing” of the club.

Arnold answered the question by telling staff that the strategic review process is ongoing. He acknowledged the process has felt like a long time and he said that certainty would be helpful. He also sought to reassure staff that the club has sufficient funds in place to cover the current bills. While Arnold gave no indication as to the preferences of United’s owners with regards to a takeover, or minority investment, or no change at all to United’s structure, he did say that that the scale of investment under discussion means these things do not always happen quickly. Arnold said: “Where there are big numbers involved, that always takes a bit of time to work through to get the right arrangements in place and to get everything done.

He did however acknowledge that the club requires the “right long-term capital structure” for their future ambitions. He did not specify what he referred to here but it likely relates to the club’s desire to improve Old Trafford, the club’s stadium, after appointing the architects Populous and management firm Legends International as master planners and consultants in April 2022.

A further question asked Arnold about the consequences of an outcome to the strategic review that saw no change of ownership. He essentially answered by saying that staff should run their affairs as business as usual, urging employees to “hang tight, show resilience and keep delivering.”One particularly direct question from employees asked why United remained so far behind their neighbours

Source: News Formal (newsformal.com)

 

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