NZBlue
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New Zealand Rugby has taken legal action against Manchester United co-owners Ineos - claiming Sir Jim Ratcliffe's company has reneged on a multi-million-pound sponsorship deal.
In a bombshell statement, the All Blacks accused the petrochemicals giant of refusing to pay an instalment on a six-year deal and attempting to 'walk away three years early'.
'We have been left with no option but to launch legal proceedings to protect our commercial position,' they added.
Ineos became the All Blacks official performance partner in 2021. The deal is understood to be worth around £3.65m per year.
Ratcliffe increased his stake in United to 28.94 per cent in December. Since taking over operations from the Glazer family at the start of last year a wide range of cost-cutting measures – including 250 redundancies – have been carried out at Old Trafford.
The aim of the review was to make United's business more profitable and to increase funds available to spend on the first team as the group seeks to return the fallen giant to the summit of world football.
New Zealand Rugby claim Sir Jim Ratcliffe's company has reneged on a sponsorship deal
Ineos signed a deal to become the official performance partner of the All Blacks in 2021
NZ Rugby said they had been left with no choice but to take legal action against Ineos
The development, first reported by Telegraph Sport, is the latest to impact on the Ineos portfolio. Last month, they announced a split with Olympic legend Ben Ainslie's America's Cup team. It is thought that the All Blacks will immediately drop the Ineos logo from their famous jerseys as they seek a new backer.
'New Zealand Rugby (NZR) is disappointed that INEOS has breached its sponsorship agreement,' the statement read. 'Most recently, it failed to pay the first instalment of the 2025 sponsorship fee, confirming its decision to exit our six-year agreement.
'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.
'NZR is actively pursuing new commercial opportunities and global interest in the All Blacks and other Teams in Black remains high. We are committed to being world-class on and off the field and deliver unique value to sponsors through our iconic brands.'
Ineos have been contacted for comment.
In a bombshell statement, the All Blacks accused the petrochemicals giant of refusing to pay an instalment on a six-year deal and attempting to 'walk away three years early'.
'We have been left with no option but to launch legal proceedings to protect our commercial position,' they added.
Ineos became the All Blacks official performance partner in 2021. The deal is understood to be worth around £3.65m per year.
Ratcliffe increased his stake in United to 28.94 per cent in December. Since taking over operations from the Glazer family at the start of last year a wide range of cost-cutting measures – including 250 redundancies – have been carried out at Old Trafford.
The aim of the review was to make United's business more profitable and to increase funds available to spend on the first team as the group seeks to return the fallen giant to the summit of world football.
New Zealand Rugby claim Sir Jim Ratcliffe's company has reneged on a sponsorship deal
Ineos signed a deal to become the official performance partner of the All Blacks in 2021
NZ Rugby said they had been left with no choice but to take legal action against Ineos
The development, first reported by Telegraph Sport, is the latest to impact on the Ineos portfolio. Last month, they announced a split with Olympic legend Ben Ainslie's America's Cup team. It is thought that the All Blacks will immediately drop the Ineos logo from their famous jerseys as they seek a new backer.
'New Zealand Rugby (NZR) is disappointed that INEOS has breached its sponsorship agreement,' the statement read. 'Most recently, it failed to pay the first instalment of the 2025 sponsorship fee, confirming its decision to exit our six-year agreement.
'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.
'NZR is actively pursuing new commercial opportunities and global interest in the All Blacks and other Teams in Black remains high. We are committed to being world-class on and off the field and deliver unique value to sponsors through our iconic brands.'
Ineos have been contacted for comment.
