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Manchester United’s co-owner Sir Jim Ratcliffe has recently been faced with legal action as New Zealand Rugby seek to sue his company INEOS.
The All Blacks are starting legal proceedings due to INEOS’ failure to pay the first instalment of 2025’s sponsorship funding.
INEOS and New Zealand Rugby entered a six-year sponsorship deal in 2021 for the chemical giants to become the performance partners of the international side.
Now, INEOS are looking to end the deal three years early in a ‘cost-saving measure’.
A statement from the All Blacks read: “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.”
However, now Sir Jim Ratcliffe and INEOS have responded, hitting back with an explanation of their actions. and the build up to the fallout.
The company issued a statement reading: “Ineos has greatly valued our sponsorship of New Zealand Rugby, having contributed over USD $30 million to the teams in recent years.”
It continued: “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.”
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Source: Centred Devils
