Man United co-owners Ineos have entered into talks with Premier League rivals Tottenham Hotspur aimed at making an early exit from their sponsorship of the north London club.
Mail Sport understands that what have been described as amicable discussions are taking place between both parties with a view to the petrochemicals giant withdrawing prematurely from a five-year deal signed in 2022.
Ineos, owned by Sir Jim Ratcliffe, are the official 4 x 4 partner of Spurs via their Grenadier vehicle and their branding is prominent in the dugouts at the club’s impressive new stadium. The Ineos logo also regularly appears regularly on advertisement hoardings and was seen throughout Spurs’s 1-0 win over United on Sunday. It is thought the agreement runs to several millions per season.
However, they are currently reducing their sporting portfolio. Last week, New Zealand Rugby announced that they were taking legal action, after Ineos made an early exit from a sponsorship deal with the All Blacks worth £3.7m a year that is not due to end until 2027.
A partnership with Sir Ben Ainslie’s America’s Cup team has also been terminated, while the Daily Telegraph reported earlier this week that Ineos’ one-third stake in Mercedes Formula 1 was also at threat, with talks ongoing.
Since their arrival at United, Ineos have made a series of cuts as part of a wide-ranging review of how the business operates, which has identified a number of areas of wastage.
Mail Sport revealed that they were to make 250 redundancies and earlier this month disclosed that a further 100 to 200 job losses were being considered.
Their aim is to return United to profit, and to free up funds to strengthen Ruben Amorim’s first team.
When news of their row with the All Blacks broke, Ineos released a statement blaming the ‘de-industrialization of Europe’ amid high carbon taxes.
When the deal with Spurs was announced, the club declared it a ‘partnership of grit and glory, purpose and passion, and daring to do things differently’.
Tottenham players Ben Davies, Dominic Solanke, Guglielmo Vicario, Timo Werner, Archie Gray and Yves Bissouma have all filmed content that appears on the Ineos website.
Spurs and Ineos declined to comment.
