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Sir Jim Ratcliffe is embroiled in a legal battle with Tottenham. |
In December 2022, Tottenham signed a promotional partnership with Ineos Automotive, a division of the Ineos Group headed by billionaire Sir Jim Ratcliffe. The five-year sponsorship deal will promote the Grenadier 4x4 off-road vehicle, with the Ineos Automotive logo prominently displayed at Tottenham's stadium.
On June 13, the Telegraph reported that Ineos Automotive wanted to end its sponsorship deal two years early, prompting Tottenham to take legal action. The London club claimed that Ineos' early withdrawal had caused significant financial losses, estimated to be in the millions of pounds.
The reason for Ineos' withdrawal is said to be related to the change in the group's development strategy. Since 2024, Ineos has owned 28.9% of Manchester United, one of Tottenham's major rivals in the Premier League. The continued appearance of Ineos' logo at Tottenham's stadium is considered inappropriate.
The decision also reflects Ineos’ overall financial situation. The group is facing huge financial pressure, with debt reportedly running at five to six times its profits. To ease the burden, Ineos is in the process of cutting its sponsorship of several other sports teams, including the Ineos Grenadiers cycling team and the New Zealand All Blacks rugby team.
This reflects a broader strategic shift by Ineos in allocating resources, prioritizing core investments and cutting unnecessary costs.
Before taking the case to court, the two sides held mediation talks in February to find an optimal solution. However, these efforts were unsuccessful, forcing Tottenham to pursue the lawsuit.
Source: https://znews.vn/tottenham-kien-gioi-chu-mu-post1560753.html
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