THE man credited with making Manchester United the world's wealthiest football club is the latest big-money transfer signing by Chelsea.

The appointment of Old Trafford chief executive Peter Kenyon to the Stamford Bridge boardroom was confirmed last night.

Chelsea's Russian billionaire owner, Roman Abram-ovich, spent £100m in the summer, buying the ailing club and bringing in a host of new signings.

Kenyon's imminent arrival shows Abramovich's determination to match Manchester United's performance both on and off the pitch.

Kenyon has earned praise for making United a commercial success. With most clubs across world football forced to tighten their belts significantly, football affairs at Old Trafford have gone on much as they have for the past decade.

A substantial salary and benefits package has lured Kenyon away from the club he has supported since he was a child.

In a statement last night Manchester United confirmed Keynon's resignation, and promoted managing director David Gill to chief executive.

An influential shareholders' group questioned Kenyon's loyalty as a United fan but admitted it would miss his supporter-friendly approach.

Shareholders United spokesman Oliver Huston said: "It should be no surprise that Roman Abramovich is not only trawling the transfer market for players.

"Peter Kenyon's contribution to the success of Manchester United and to improving relations between fans and the board no doubt made him an attractive target."

He added: "We can only speculate on the remuneration package Kenyon has been offered to give up managing one of the world's biggest football clubs to move to a club with very little international reach and profile.

"It seems he was not quite as much of a United fan as he professed himself to be."