Man United minority stake holders in talks to end Tottenham funding

Manchester United co-owners INEOS are reportedly in talks with Tottenham Hotspur over prematurely ending their sponsorship agreement with the North London club.

Sir Jim Ratcliffe’s INEOS own 25 per cent of Manchester United, acquiring the stake from the Glazers a little over a year ago.

However, prior to their involvement with Man United, they announced a multi-million pound, five-year deal in December 2022 with Spurs to promote INEOS Grenadier car as the club’s ‘official 4×4 vehicle partner’.

According to The Telegraph, Tottenham said about the Grenadier deal back in 2022: “Our partnership with Ineos Grenadier represents the coming together of an innovative British brand with an iconic London football club – both of whom are committed to pushing boundaries and daring to do things differently, while staying true to authentic values and traditions.”

Last year, Cinch decided to end their Tottenham shirt-sleeve sponsorship early, which saw cryptocurrency firm Kraken agree a sponsorship deal with Spurs to replace the used car retailer.

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INEOS in talks to end Spurs sponsorship

The outlet explains that even before that trademark agreement in 2022, Spurs and INEOS had already been in a partnership, with the petrochemicals company being named the club’s official hand sanitiser supplier during the Covid pandemic back in 2020.

However, discussions are now underway to end the sponsorship deal two years before it runs out, with the United owners being the ones to initiate talks over an early termination.

The discussions between the Ratcliffe-owner organisation and the Tottenham board which includes Daniel Levy are described by sources as ‘amicable’ as the two parties try to hammer out an agreement.

Why are INEOS ending their Tottenham sponsorship?

It is revealed INEOS are being forced into major cost-cutting measures, which they claim is a result of “the high energy costs and extreme carbon taxes”.

Their sporting activities are also the centre of a lot of media attention of late after two credit rating agencies raised some red flags over the group.

This news arrives after the petrochemicals company split with Ben Ainslie’s sailing team and the All Blacks, with New Zealand Rugby expected to take legal action against the company for breaching the terms of their sponsorship agreement.

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