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(Changes attribution, adds detail on potential deal in paragraphs 4-5, background on Arnold in paragraphs 6-7)
Nov 15 (Reuters) - Manchester United CEO Richard Arnold will step down, the Premier League club said on Wednesday, ahead of the club's reported stake sale to British billionaire Jim Ratcliffe.
General counsel and board director Patrick Stewart, who has been with the club for over 17 years, will be become interim CEO.
The move comes amid uncertainty about the British football club's future ownership after the American Glazer family last year said they were looking at options for the 20-times English champions, including a new investment or a potential sale.
Arnold was appointed CEO less than two years ago, when he took over from executive vice-chairman Ed Woodward and filled a role that had been left vacant since 2013.
Tasked with reviving the club's fortunes, Arnold in April last year
brought on
team manager Erik ten Hag, who has also come under intense pressure in recent months because of the club's lacklustre performance on the field.
Reuters reported in October that Ratcliffe would pay more than $1.5 billion for a 25% stake in United were his bid for the iconic soccer club to be accepted by the Glazer family that controls it.
The Glazers have not yet reached a deal with Ratcliffe but one is
expected
to be finalised between the two sides in the coming weeks, a source told Reuters earlier this month.
Sky News was first to report the management changes on Wednesday.
Patrick Stewart's appointment as interim CEO would allow United's new joint owners to identify the right long-term candidate to run the club, Sky News reported, citing one source.
Manchester United did not immediately respond to a Reuters' request for comment on the rationale.
Arnold will provide "transitional support" until the end of December, the club said, and they will start looking for a permanent CEO, United said in a statement. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shinjini Ganguli and Nivedita Bhattacharjee and Christian Radnedge)