New Zealand Rugby Sues Ineos For Dumping Sponsorship Deal
New Zealand Rugby Sues Ineos For Dumping Sponsorship Deal
Stated that the British multinational failed to pay its first installment of the 2025 fee
New Zealand Rugby has stated taking legal recourse against British chemicals giant Ineos, accusing it of abandoning a sponsorship deal.
Owned by billionaire Jim Ratcliffe, Ineos has stakes in a string of prominent sporting brands including Manchester United, Mercedes Formula 1 and the Ineos Grenadiers cycling team.
Since 2021, it has been one of the All-Blacks’ major sponsors, signing a six-year deal for an undisclosed sum.
New Zealand Rugby stated, “Ineos breached its sponsorship agreement by failing with the first installment of the 2025 sponsorship fee.”
Realizing that Ineos had decided to walk away three years ago, it said, “We have moved to protect the interests of New Zealand Rugby and the wider game. We have no option but to launch legal proceedings to protect our commercial position."
The governing body added, “We are actively pursuing new commercial opportunities."
