Manchester United have appointed ex banker Ed Woodward, who quit JPMorgan Chase & Co. to join the club following the Glazer family’s takeover in 2005, as the club’s new vice chairman.
Woodward, who master minded the club’s commercial operation with Commercial Director Richard Arnold that brought record revenue of more than £100m last season was at JPMorgan when they helped the Glazers acquire the club for £790m in a leveraged buyout of United.
“Ed’s role will not change, but the board feels this change makes his responsibilities on the commercial side much clearer,” said club spokesman Philip Townsend.
Woodward and Arnold were responsible for developing the marketing strategy which is credited with delivering a range of deals from Malaysian snack-brand Mr. Potato to Chilean wine producer Concha y Toro.
Last August the club signed a £40m, four-year deal with DHL for the rights to put its logo on its training apparel.