The co -owners of Manchester United, have not responded extraordinary after they arose that they were being sued by the All Blacks.
The petrochemical giant of Sir Jim Ratcliffe has issued an explosive statement that states that they have decided to end their sponsorship of the New Zealand rugby thanks, nothing less, to the 'deindustrialization of Europe'.
They say that the movement to retire as a performance partner, which has triggered legal actions, was due to 'high energy costs' and 'extreme carbon taxes' in their businesses.
As a result, they say they have had to make 'cost savings measures' that include pulling the trap of the six -year agreement worth around £ 22 million. “We are witnessing the deindustrialization of Europe,” they added.
In 125 scorching words, Ineos has also hit the antipodea institution, claiming that “instead of working towards a administrated solution, the New Zealand rugby has chosen to follow legal actions against its sponsor.”
Last night, Telegraph Sport, reported that the All Blacks had accused the line of the last installment of an agreement that came into play in 2021.
Ineos has responded to the New Zealand rugby team with an explosive statement on Tuesday
The All Blacks accused ineos of refusing to pay a quota in a six -year contract and try to take away three years before '
New Zealand rugby said they had no choice but to take legal actions against INEOS
The New Zealand rugby confirmed that he was following a legal route and also arose that they were trying to eliminate the brand ineos immediately from their famous shirts.
The withdrawal may have caused concerns among United fans. Ratcliffe and his group took over Old Trafford operations after taking a quarter in January last year, which has since increased to 28.94 percent.
They have already made about 250 layoffs and have carried out a series of cost savings measures while seeking to balance the books and release effective to spend on the first team.
Last month, Ineos announced a separation with the Legend Olympic Ben Ainslie's America's Cup team, since its broader sports portfolio seems to be reduced.
The New Zealand rugby accused the giant of the industry to refuse to pay a six -year contract and try to “move away three years before.”
“We have ran out of option to launch legal procedures to protect our commercial position,” they added.
At that time, Ineos could not be contacted to comment. However, on Tuesday they had their opinion.
“Ineos has greatly valued our sponsorship of the New Zealand rugby, having contributed more than USD $ 30 million to the teams in recent years,” the statement opens.
Petrochemical industry giants have sponsored the New Zealand rugby team since 2021
Ineos bought a participation in Manchester United, which has since increased to 28.94 percent
'However, commercial conditions for our European companies have been seriously affected by high energy costs and carbon extreme taxes, together with much of the chemical industry in Europe, which is fighting or closing. We are witnessing the deindustrialization of Europe.
'As a result, we have had to implement cost savings measures throughout the business. We try to reach a sensible agreement with the All Blacks to adjust our sponsorship in the light of these challenges.
'Unfortunately, instead of working towards a managed solution, the New Zealand rugby has chosen to follow legal actions against its sponsor. We remain in a continuous discussion with the New Zealand rugby.
New Zealand rugby has been contacted to comment.
