Manchester United minority shareholder Sir Jim Ratcliffe has reportedly agreed to pay Tottenham a huge sum of money to get out of a sponsorship deal. Ratcliffe’s petrochemicals company INEOS signed a deal to become Spurs’ official 4x4 partner through their Grenadier vehicle in 2022.
Ratcliffe’s shares in the Red Devils were transferred to INEOS last year, with the company owning 28.94 per cent of the club. And the billionaire had been in discussions with Tottenham over ending INEOS’ sponsorship of the Lilywhites, despite the fact the deal was due to run until 2027.
According to the Daily Mail, INEOS have paid a ‘not insignificant sum’ thought to be in the millions to get out of the contract.
The deal, which was announced just before Christmas 2022 as four players were pictured sitting inside a Grenadier, had been worth several million per season.
Previous discussions between the two parties had been amicable, with Tottenham removing branding on their dugouts and advertising screens ahead of their Europa League victory against AZ Alkmaar on Thursday night. And Spurs will now look for a more lucrative general automotive deal instead.
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