New Zealand Rugby has announced a settlement with British chemicals conglomerate Ineos, following allegations earlier this year that Ineos had abruptly withdrawn from a lucrative sponsorship agreement.
The resolution comes after a turbulent period marked by legal threats over the sponsorship deal signed in 2021.
Owned by billionaire Jim Ratcliffe, Ineos had entered into a six-year sponsorship with New Zealand Rugby, which included prominent branding on the All Blacks’ training gear.
This multi-million-pound deal originally heralded a new era of partnership, aligning one of rugby's most storied teams with a global leader in chemicals with interests spanning across major sporting franchises, including Manchester United and the Mercedes Formula One team.
However, the relationship soured in February when New Zealand Rugby claimed that Ineos had failed to provide the first instalment of the sponsorship fee due for 2025.
This came after Manchester United’s co-owners’ decision to withdraw multi-million-pound sports sponsorship deals around the world.
Ineos acquired a 28.9% stake in Manchester United early in 2024, but has started the year by going on a cost-cutting crusade, seemingly trying to streamline their resources to try and rebuild the English giants, who have severe problems on and off the field.
This prompted New Zealand Rugby to announce plans for legal action intended to safeguard its financial interests and those of the broader rugby community, indicating the seriousness of the situation.
But on Tuesday, both New Zealand Rugby and Ineos jointly issued a statement confirming the resolution of the dispute.
"New Zealand Rugby and Ineos can confirm that a settlement has been reached between the two parties," a joint statement read.
"Whilst the details remain confidential, both organisations are satisfied with the outcome and acknowledge a desire to now move forward."
Additional reporting by AFP
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