All Blacks chiefs sue Man United big boss
Yesterday at 04:06 AM
INEOS stands accused of walking away from their lucrative sponsorship agreement with New Zealand Rugby, who has now started legal action over the matter.
Ineos is a British petro-chemical conglomerate that is owned by billionaire Jim Ratcliffe and has stakes in a sporting brands like Manchester United, Mercedes Formula 1 and the Ineos Grenadiers cycling team.
In 2021, Ineos signed a six-year deal with New Zealand Rugby to become one of the All Blacks' major sponsors.
According to New Zealand Rugby, the company had breached its sponsorship agreement by failing to pay "the first instalment of the 2025 sponsorship fee", and as as result they will now take steps to remove the Ineos brand from the All Blacks’ training jerseys and the shorts players wear during Tests.
"New Zealand Rugby is disappointed that Ineos has breached its sponsorship agreement. 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's 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.
"New Zealand Rugby 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."
According to the United Kingdom’s Daily Telegraph, a page on Ineos' website about the partnership with New Zealand Rugby now says "page not found".
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