Sir Jim Ratcliffe has cancelled INEOS’ sponsorship deal with Tottenham (Image: GETTY)
minority shareholder has reportedly agreed to pay Tottenham a huge sum of money to get out of a sponsorship deal. Ratcliffe’s petrochemicals company INEOS signed a deal to become Spurs’ official 4×4 partner through their Grenadier vehicle in 2022.
Ratcliffe’s shares in the Red Devils were transferred to INEOS last year, with the . And the billionaire had been in discussions with Tottenham over ending INEOS’ sponsorship of the Lilywhites, despite the fact the deal was due to run until 2027.
According to the , INEOS have paid a ‘not insignificant sum’ thought to be in the millions to get out of the contract.
The deal, which was announced just before Christmas 2022 as four players were pictured sitting inside a Grenadier, had been worth several million per season.
Previous discussions between the two parties had been amicable, with Tottenham removing branding on their dugouts and advertising screens ahead of their Europa League victory against AZ Alkmaar on Thursday night. And Spurs will now look for a more lucrative general automotive deal instead.
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Tottenham Hotspur can today announce a multi-year deal with INEOS Grenadier as its Official 4×4 Vehicle Partner.Welcome to the Club, ??????
— Tottenham Hotspur (@SpursOfficial)
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INEOS are said to be keen to focus their attention solely on United, with New Zealand Rugby initiating legal action after the company reportedly walked away from their deal with the governing body early.
A partnership with Sir Ben Ainslie’s America’s Cup team has also been ended, while INEOS’ stake in the Mercedes F1 team is also said to be under threat.
In February, New Zealand Rugby insisted that INEOS had “failed to pay the first instalment of the 2025 sponsorship fee, confirming its decision to exit our six-year agreement”.
The governing body added: “Having learned of INEOS’ decision to walk away three years early, we have moved to protect the interests of New Zealand Rugby and the wider game. We have been left with no option but to launch legal proceedings to protect our commercial position.”
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Meanwhile, INEOS explained in a statement: “We have had to implement cost-saving measures across the business.
“We sought to reach a sensible agreement with the All Blacks to adjust our sponsorship in light of these challenges.
“Unfortunately, rather than working towards a managed solution, New Zealand Rugby has chosen to pursue legal action. We remain in ongoing discussion.”