Man United co-owners INEOS issue statement after being sued by All Blacks for breaching sponsorship deal | OneFootball

Manchester United’s co-owners INEOS have hit back after it emerged they were being sued by New Zealand Rugby team All Blacks for backing out of a sponsorship agreement.

On Tuesday, the All Blacks announced that they were taking legal action against Sir Jim Ratcliffe’s INEOS group for an alleged breach of its sponsorship of the team.

In 2021, INEOS agreed to become the performance partner of the All Blacks from 2022 to 2027.

As part of the terms of the deal, INEOS’ branding would be displayed on the back of the rugby team’s training shorts and on the front of the training jerseys.

In their announcement, the All Blacks noted that INEOS failed to pay the first instalment of the 2025 sponsorship fee, effectively confirming their decision to get out of the arrangement.

Earlier today, the petrochemicals giants issued a statement, outlining their reasons for reneging on the deal.

INEOS also aimed a dig at the All Blacks, insisting that they elected to engage in a legal battle rather than try and work towards a mutually beneficial solution.

“Ineos has greatly valued our sponsorship of New Zealand Rugby, having contributed over USD $30million to the teams in recent years.”

“However, trading conditions for our European businesses have been severely impacted by high energy costs and extreme carbon taxes, along with much of the chemicals industry in Europe, which is struggling or shutting down. We are witnessing the deindustrialisation of Europe.”

“As a result, 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 have chosen to pursue legal action against their sponsor.”

“We remain in ongoing discussion with New Zealand Rugby.”

This is just the latest measure taken by Ratcliffe to cut costs. He has implemented a number of measures at United including making hundreds of staff redundant, cancelling Sir Alex Ferguson’s ambassadorial contract and cancelling the popular Christmas party.

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