Stefan Borson reveals how much INEOS really owe Tottenham after deal terminated
INEOS owe Tottenham £11million after terminating its sponsorship deal as a “very odd” situation has emerged.
The petrochemicals company, which is spearheaded by Manchester United co-owner Sir Jim Ratcliffe, first partnered with Spurs in 2020 after agreeing to become their official hand sanitiser and 4×4 vehicle partners.
The deal was later expanded in 2022, with the INEOS brand displayed in the dugout of the Tottenham Hotspur Stadium.
INEOS held talks to end the Tottenham sponsorship in February as Ratcliffe continues to pursue cost-cutting measures across his empire, with the Mail reporting on 16 March the two parties had reached a pay-off agreement to end the deal early
However, court records show Tottenham filed a commercial claim on 12 June after INEOS exited the sponsorship deal three years into a five-year agreement.
Spurs are seeking just over £11million, which includes £5.5million for missed payments last year, another £5.3milllion for the 2026-27 campaign, the final year of the sponsorship deal, and an additional £300,000 in interest.
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Finance expert Stefan Borson exclusively told Football Insider the sponsorship deal was sizeable given the properties involved.
Borson previously told Football Insider Tottenham are likely to reach a settlement agreement with INEOS.
In a statement on 13 June, INEOS said: “INEOS Automotive has been a partner of Tottenham Hotspur since 2022, expanding on a partnership agreement that INEOS Group had in place with the club since 2020.
“We have a contractual right to terminate our partnership contract and in December 2024 exercised that right.”
Tottenham face issue agreeing new sponsor deal
Borson insisted Tottenham could face an issue replacing the INEOS deal.
He told Football Insider: “You have to understand what that £11million is.
“The first thing is it’s a very odd situation because I seem to recall that when it came out that that agreement had been terminated, the parties said that they basically agreed a settlement in respect of it, and that obviously seems not to have been true.
“INEOS effectively owe Spurs the payment for the rest of the season in which they terminated, and then the claim is for the two years left of the contract now.
“Of course, Tottenham will have a duty to mitigate that loss by going and finding a replacement sponsor.
“So, the way it works is this is a contractual claim and they will effectively have to show the court that they tried to mitigate the £11million of lost revenue by trying to find a replacement.
“I think it’s interesting that they’ve not yet been able to. I think it’s also interesting that it’s about a £5million-a-year contract. It’s quite a lot. It’s pretty sizable given the properties.
“I think INEOS were the official vehicle partner and obviously also had the pitch side sponsorship, so that’s what they bought for £5million. I think £5million a year for that feels like quite a lot, but we know that’s what it was.
“It’s probably quite hard for Spurs to find a replacement.”
Tottenham make contact over Antoine Semenyo deal
In terms of potential incomings, Football Insider revealed on 23 June Tottenham have made contact about a deal for Antoine Semenyo.
Bournemouth have placed a £70million asking price on the 25-year-old’s head and are confident of sealing a swift deal for a replacement if that price tag is met.
Semenyo is viewed as a good fit for Thomas Frank‘s all-action style following the Dane’s appointment as the new Tottenham boss earlier this month.