Sir Jim Ratcliffe’s INEOS has reached an out-of-court settlement with Tottenham Hotspur to end an £11m+ legal dispute over an alleged breach of a sponsorship deal, Telegraph Sport journalist Ben Rumsby has revealed.
The dispute arose from a five-year, £17.5m agreement signed in 2022 for Spurs to promote INEOS Grenadier as their ‘official 4x4 vehicle partner’.
Tottenham terminated their contract with the Manchester United co-owner’s conglomerate in March this year and launched legal action in June, claiming INEOS had failed to pay a £5m annual instalment and an additional inflation-related sum of almost £500,000.
According to Spurs’ legal filings, the club were also seeking at least £5,275,974 in damages after the deal was terminated with over two years remaining.
INEOS responded with a counter-claim for over £1m, alleging Spurs held sponsorship talks with Audi related to Harry Kane’s transfer to Bayern Munich in the summer of 2023.
INEOS Agree Settlement to End Tottenham Dispute
According to Rumsby, while the exact amount paid to Tottenham remains undisclosed, sources suggest it could be around half the £11m+ the North London club had sought.
The partnership between Tottenham and INEOS began when the firm became the club’s ‘official hand-sanitiser supplier’ during the coronavirus pandemic.
Spurs filed their claim less than a month after defeating Ratcliffe’s United in the Europa League final to qualify for the Champions League.
The defeat saw United miss out on European competitions for the first time since the 2013/14 season, when they finished seventh in the Premier League under David Moyes.
Spurs, meanwhile, parted ways with manager Ange Postecoglou after the final in Bilbao, despite the Australian tactician leading the North London club to their first trophy in 17 years.
Tottenham appointed former Brentford boss Thomas Frank shortly after, penning a three-year deal with the Danish tactician, who started by winning eight of his first 17 games in charge.
The North London side secured a 4-0 victory over Danish side Copenhagen in the Champions League on Tuesday, remaining unbeaten in the competition after four games.
Spurs host Man United at home on Saturday and will be looking to continue their unbeaten run against the Red Devils, with seven meetings without defeat and wins in the last four.