New Zealand Rugby (NZR) has launched legal action against the Io after the company, established and managed by British billionary Sir Jim Ratcliffe, allegedly dropping a sponsor agreement with three years left.
Ineos bonding appears on jerseys and other clothes worn by senior sides of men and women – the All Blacks and Black Ferns – as well as the New Zealand Māori and New Zealand Sevens team teams after a Deal signed in 2022, which is due to continuation until 2028.
New Zealand Rugby said Tuesday that the first installation of 2025 sponsorship was not paid by the global giant chemical and had no choice but to continue legal action.
Their chief communications officer Paul Stevens, NZR said “Ineos failed to violate its sponsorship agreement. Most recently, it failed to pay the first installation of 2025 sponsorship fees, which It confirmed its decision to come out of our six -year agreement. “
“Ineos’ decision to walk for three years early, we moved to protect the interests of New Zealand Rugby and the wider game,” Stevens added. “We were left without choice but to launch legal proceedings to protect our commercial position.”
The sponsorship deal is believed to be worth around 4.5m US dollars per year (£ 3.64m/nz $ 8m). Stevens added that the NZR “is actively pursuing new commercial and global interest opportunities in All Blacks and other black teams that remain high.”
Ratcliffe is a minority shareholder at the Premier League Football Club Manchester United, and his company sponsor the British America’s Cup Sailing Team and the Ineos Grenadiers Professional Cycling Team.
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Ineos, who also owns European football teams Nice (France) and Lausanne-Sport (Switzerland), did not respond to NZR’s statement at the time of writing.
