- Petrochemical giant accused of refusing to pay a quota of a six -year contract
- Nz Rugby said they had not been 'without option', but to take legal actions
The New Zealand rugby has undertaken legal actions against the co -owners of Manchester United united, claiming that the company of Sir Jim Ratcliffe has breached a multi -million dollar sponsorship agreement.
In a pump statement, the All Blacks accused the giant petrochemical of refusing to pay a quota of a six -year agreement and try to “move away three years before.”
“It has been left without option to launch legal procedures to protect our commercial position,” they added.
Ineos became the official performance partner of the All Blacks in 2021. The agreement is understood that it is worth around £ 3.65 million per year.
Ratcliffe increased his participation in United to 28.94 percent in December. Since he took care of the Glazer family operations at the beginning of last year, a wide range of cost reduction measures were carried out, including 250 layoffs, in Old Trafford.
The objective of the review was to make United's business more profitable and increase the funds available to spend on the first team, since the group seeks to return the world football to the Giant Fallen.
New Zealand rugby states that the company of Sir Jim Ratcliffe has breached a sponsorship agreement
INEOS signed an agreement to become the official performance partner of the All Blacks in 2021
Nz Rugby said they had had no choice but to take legal actions against INEOS
The development, first informed by Telegraph Sport, is the last to impact the Ineos portfolio. Last month, they announced a separation with the Olympic legend team Ben Ainslie's America's Cup. It is believed that the All Blacks will immediately eliminate the ineos logo of their famous t -shirts while looking for a new sponsor.
“New Zealand Rugby (NZR) is disappointed that Ineos has breached its sponsorship agreement,” reads the statement. 'More recently, he could not pay the first quota of the 2025 sponsorship rate, confirming his decision to get out of our six -year agreement.
'Having learned from the decision of ineos to get away three years before, we have moved to protect the interests of the New Zealand rugby and the broader game. It has been left without option to launch legal procedures to protect our commercial position.
'NZR is actively chasing new commercial opportunities and global interest in All Blacks and other black teams is still high. We are committed to being world class inside and outside the field and offering a unique value to sponsors through our iconic brands.
Ineos has been contacted to comment.