Manchester United group managing director Richard Arnold says the Glazers' success is due to taking a long-term vision of the club.

United have enjoyed success on the pitch during the Glazers' stewardship, winning five Barclays Premier League titles and the 2008 Champions League - success Arnold told The Telegraph's Business of Sport conference is no fluke.

"In any organisation, if you have poor decision-making, a lack of vision and a short-termist approach - whether that is butchers, bakers, candlestick makers or a football club - it is not going to do very well," he said.

"Yesterday was the 10-year anniversary of our current owners and that long-term approach they've taken, the vision they've shown and the decisions they've made have borne out on and off the pitch and they've been strong."