Man Utd co-owners trying to back out of Tottenham sponsorship deal | OneFootball

Manchester United's minority owners INEOS are looking to terminate a multi-million-pound sponsorship deal with Tottenham Hotspur, a report claims.

The multinational conglomerate, who are in charge of everyday decision-making at Old Trafford, have two years remaining on a five-year contract they signed with Spurs over the promotion of an off-road utility vehicle dubbed the INEOS Grenadier.

The Times report the deal is worth 'several million pounds a year' and includes sponsorship of the dugout seats at the Tottenham Hotspur Stadium, as well as on digital advertising boards around the perimeter of the pitch.

Sir Jim Ratcliffe's organisation are already involved in a legal battle with New Zealand Rugby after defaulting on a £3.7m-per-year sponsorship payment, and parted ways with Sir Ben Ainslie's America's Cup team a month ago.

Cost-cutting measures have also been implemented at United, with a large number of staff made redundant by INEOS - and potentially more to come - as they look to completely overhaul how the club is run. It has left a sour taste in the mouths of many supporters, with dreadful performances on the pitch doing little to lift the gloom engulfing Old Trafford.

Head coach Ruben Amorim told a press conference on Friday that the responsibility of United's troubles must be shouldered by the first-team players, who are still struggling to adapt to the methods of the former Sporting CP boss.

"I think it's really important for us in the first team, coaches and players, to not ignore that," Amorim said. "People are losing their jobs so we have to acknowledge that the biggest problem is the football team. We spend the money. We are not winning. We are not in the Champions League so the revenues are not the same.

"We spent a lot of money in the past and now we have to be careful with the finances so cannot rebuild the team the way we would like."

INEOS' discussions with Tottenham to end their arrangement are described as 'amicable', suggesting Ratcliffe may not encounter the issues he's faced in terminating other deals.