Arnold met with the fans in a pub after they had planned to stage a protest outside the CEO's home.
Man United released a statement saying that he bought drinks for the group and listened to their concerns about the Glazers, the club's recruitment and a number of other issues.
He admitted to 'not being thrilled' about where Man United are at present, describing last season as a 'f****** nightmare'.
Arnold has come under fire for his candid remarks, that were posted on social media after one of those he was speaking to recorded the conversation seemingly without his knowledge.
Liverpool hero Carragher defender the United CEO and actually took aim at the fan who secretly recorded him.
He wrote on Twitter: "Every fan moans about not getting access to people at the top of their club, this is the reason why they don't. Fair play to Richard Arnold."
Former Liverpool star Dean Saunders also weighed in on the video that has since gone viral on social media.
He pointed out that the owners should not be the shouldering all of the blame.
"At least he's faced up to the fans and spoken to them and tried to explain," Saunders told Weekend Sports Breakfast.
"When you look at it, if the Generals and the Colonels can't get it right then the soldiers can't win the war.
"If it's not right at the top, then it works its way to the shop floor, which is the football pitch.
"Then you point fingers at the owners who are right at the top. Their answer is they have spent £1billion, so you can't really point the finger at them too much.
"They will say 'hang on, we've spent more than anyone else. We've give you the moment, but you've just not spent it very well.'
"There are people crawling into football from all angles, because that's where the money is, if all the money was in rugby then they'd be crawling into rugby.
"They are not actually football people, but earning an absolute fortune out of football and haven't got a clue what they are doing.
"They manage to get into football clubs and work their way up the chain and they've got a job that's £500,000-a-year and they hide behind ridiculous mistakes.
"I think there's not one player at Man United who has done well over the last five years. Ed Woodward was in charge of the signings.
"You could say [Bruno] Fernandes has done well, but he hasn't won anything.
"Before the Man United fans come on and say 'he's done well, he's done well', if you go to Man United and leave after five years and I say 'how do you think you've done?' If you can't tell me you've won something then you've not done very well."