New Delhi: British petrochemical giant and co-owner of Manchester United, INEOS, are in discussions with fellow Premier League club Tottenham Hotspur to terminate its sponsorship deal earlier than planned. They have been associated with the North London club since during the covid pandemic, first becoming the club’s hand sanitiser supplier in 2020 before signing a multi year deal a few years later.
The agreement, signed in 2022, saw INEOS become Spurs’ official 4×4 vehicle partner, with the company’s Grenadier branding featuring prominently at the Tottenham Hotspur Stadium. However, reports indicate that both parties are now engaged in “amicable” discussions regarding an early exit, with INEOS having an option to terminate the contract at the end of the current season.
While no official statements have been made by either INEOS or Tottenham, the move comes amid the company’s growing efforts to cut costs and scale back its involvement in sports sponsorships. One of the key factors behind INEOS’ decision to cut back on sponsorship deals is its growing involvement with Manchester United. The company acquired a 27.7% stake in the club for $1.6 billion (£1.25 billion) in early 2024 and has since been focusing on restructuring the club’s operations.
#THFC are in talks with Ineos to end their multi-million pound deal to promote the Ineos Grenadier car as the club’s “official 4×4 vehicle partner” two years earlier than planned. Ineos are currently scaling back their sporting investments significantly [Telegraph] pic.twitter.com/kT3UEWgYYs
— The Spurs Web (@thespursweb) February 19, 2025
Since taking charge, INEOS has already made 250 staff redundancies at United, removed Sir Alex Ferguson’s paid ambassador role, and ended the policy of free staff travel for finals. Reports suggest that further cuts are being considered to streamline costs as the club struggles financially. United’s latest quarterly accounts revealed a significant drop in operating profit—from £27.5m to just £3m—further reinforcing INEOS’ need to tighten its budget.
Moreover, the optics of INEOS continuing to sponsor a rival Premier League club while owning a significant stake in Manchester United may not sit well with the fanbase or United’s stakeholders. Given that Tottenham and United are direct competitors, it is understandable that INEOS would want to reallocate its resources towards its new football project rather than funding a competitor’s commercial success.
INEOS Scaling Back Across Sports
Their decision to step away from its Spurs sponsorship is not an isolated case with the firm cutting down on multiple sports related sponsorship deals. One of the most high-profile exits came with their early withdrawal from a £3.7 million-a-year sponsorship deal with New Zealand Rugby (NZR), originally set to run until 2027. This led to legal action from NZR, as INEOS cited “cost-saving measures” and the “deindustrialization of Europe” as reasons for their decision.
Similarly, INEOS also severed ties with four-time Olympic sailing champion Ben Ainslie, despite having backed his Britannia America’s Cup team since 2018. Ainslie publicly expressed his shock at the decision, stating that he was “astounded” by INEOS’ move. Additionally, reports from the Daily Telegraph have suggested that INEOS was on the verge of ending its sponsorship deal with Mercedes’ Formula 1 team last year due to tense negotiations.
Beyond football, INEOS has been facing economic pressures in its core business, which has influenced its decisions to reduce spending in sports. The petrochemical industry has been affected by fluctuating market conditions, and INEOS has cited broader financial concerns as a reason for cutting back on sponsorship deals.
🚨🚨🌕| JUST IN: New Zealand Rugby is taking legal action against INEOS. They have accused them of breaching their sponsorship deal.
INEOS agreed a 6-year deal to become their official performance partner until 2027, but have FAILED to pay the first instalment.
[@JWTelegraph] pic.twitter.com/AdJvZCJaph
— centredevils. (@centredevils) February 10, 2025
While Spurs and INEOS are yet to formally announce the conclusion of their deal, all signs point to a strategic business decision rather than any specific dissatisfaction with the partnership itself. Given INEOS’ track record of recent exits across multiple sports, it appears the company is simply prioritizing its long-term financial stability while focusing more on its ownership stake in Manchester United.
With discussions ongoing, Tottenham will likely need to seek a new sponsor to fill the void left by INEOS. Meanwhile, INEOS’ cost-cutting measures suggest that further changes could be on the horizon—not just for its sponsorship deals, but also for its sporting ventures, particularly at Old Trafford.
Manchester United part owners INEOS are looking to end the sponsorship deal with fellow Premier League club Tottenham Hotspur earlier than it was anticipated. Dive in to find out why! Football Sports News: Latest Cricket News, Cricket Live Score, Sports Breaking News from Sports Today
