Arnold had a candid and frank discussion with Manchester United fans but was unaware he was being recorded and is likely to have viewed his comments as part of a private discussion.
The Manchester United chief made some stunning revelations in an assessment of the club.
Carragher praised Arnold for the admissions he made but believes that the group of fans were wrong to covertly film the frank exchange.
“Every fan moans about not getting access to people at the top of their club, this is the reason why they don’t,” Carragher tweeted. “Fair play to Richard Arnold.”
A group of Manchester United fans had travelled to the area Arnold lives to hold a protest outside his house against the controversial ownership of the Glazers.
Arnold heard about the protest and moved quickly to the pub that the fans were assembling for the protest.
Speaking about Manchester United’s transfer activity in recent years, Arnold told the supporters: “We spent a billion pounds on players, more than anyone in Europe.
“I’m not thrilled where we are. It doesn’t sit easy with me and I worry how we get this sorted for the future. What’s happened is we have f***ing burned through cash.
“You can’t go to our training ground and say ‘show me where the £1billion is’ because we haven’t spent money well historically.
“Last year was a f***ing nightmare. There was hate at every game. We’ve blown through an enormous amount of money.”
In a statement on Sunday morning, a spokesperson for United said: “Richard heard that a group of fans had gathered in a pub near his house.
“He went to meet them, bought them all a drink, listened to their views, and explained what the club is doing to deliver success on the pitch, improve the stadium, and strengthen engagement with fans.”
Arnold succeeded Ed Woodward as United’s chief executive in February, having been the man behind the club’s commercial deals since becoming group managing director in 2013.
His first major move after becoming CEO was to appoint Erik ten Hag as manager.