Tottenham have entered into talks with Ineos to potentially end their sponsorship agreement two years early, a new report has claimed. The petrochemicals giants are also associated with Manchester United as CEO Sir Jim Ratcliffe holds a stake in the Old Trafford club.
Since having his partial takeover of United confirmed this time last year, Ratcliffe has gone on significant cost-cutting measures which has included cutting several jobs, cancelling the staff Christmas party and removing bonuses for stewards.
With Ineos now more commonly known to be involved in decisions at United, it has been easily forgotten that they are one of Tottenham’s many sponsors. Ineos are 4×4 partners of Spurs with their Grandier vehicle which sees the brand’s logo printed in the dug-outs at the Tottenham Hotspur Stadium.
That was why Ineos branding was prominently on display during United’s clash with Spurs this past weekend despite it being away from Old Trafford. However, that may not be the case at Tottenham’s next game on home soil against Manchester City later this month.
According to the Daily Mail, Ineos are in talks to end their five-year agreement early with it claimed amicable discussions are taking place between both parties. Ratcliffe has gone on quite the cost-effective crusade in the last 12 months with decisions made to terminate other partnerships elsewhere.
An early exit has already been made over a partnership with New Zealend Rugby, but the All Blacks have since announced they will be taking legal action after seeing their agreement, worth £3.7m a year which was due to run until 2027, end prematurely.
In addition to that, a deal with Sir Ben Ainslie’s America’s Cup team has also been terminated. Ineos’ 33.3 per cent stake in Mercedes’ Formula 1 is also at threat having already attempted to re-negotiate terms, as per The Telegraph.
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