Tottenham take legal action against INEOS over withdrawal from sponsorship deal
INEOS, the petrochemical company which owns a minority stake in Manchester United, is being sued by Tottenham Hotspur after withdrawing from a sponsorship agreement with the Premier League club.
In December 2022, Tottenham announced a 'multi-year deal' to make the INEOS Grenadier the team's 'official 4×4 vehicle partner', with the Grenadier logo featuring on headrests in the stadium dugouts and on matchday advertising.
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Spurs and INEOS first partnered in 2020 during the Covid-19 pandemic, where it became the club's 'official hand sanitiser supplier'.
On Thursday, Tottenham filed a legal claim against the company's subsidiary INEOS Automotive Limited.
In a statement on Friday, INEOS said: 'We have a contractual right to terminate our partnership contract (with Tottenham) and in December 2024 exercised that right.'
Founded by British billionaire Sir Jim Ratcliffe, INEOS bought a 27.7 per cent stake in United in February 2024, which increased to 28.94 in December 2024 due to a pre-existing commitment at the time of the takeover.
Since becoming part-owner of the club, Ratcliffe has overseen drastic cost-cutting measures at United, which included making 250 staff members redundant last summer and a further 100 in March.
In February, New Zealand Rugby (NZR) launched legal action against INEOS after it allegedly cut short a long-term sponsorship agreement.
NZR claimed that INEOS — which announced what it called a 'unique new six-year partnership' with the rugby body in 2021, beginning in 2022 through to 2028 — did not pay the first instalment of its sponsorship fee for 2025.
In response, INEOS pointed to a change in 'trading conditions' caused by high energy costs and added it had hoped to find a 'managed solution' to the issue.
The two sides confirmed that they had reached an agreement to settle the dispute in April.
INEOS also owns one-third of the successful Mercedes F1 team and the INEOS Grenadiers Tour de France-winning cycling team.
It also owns the INEOS Britannia sailing team, which reached the final of the America's Cup before losing to Emirates Team New Zealand in October, but withdrew its challenge for the next America's Cup in April. It had been announced in January that INEOS had split with team principal and skipper Ben Ainslie, the four-time Olympic champion.
INEOS is also a performance partner of the NN Running Team, comprising over 50 athletes from eight countries.
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