SIR JIM RATCLIFFE’S Ineos are being sued by New Zealand’s rugby team for “failing to pay sponsorship fees.”
It is the latest headache for Manchester United’s owner, who has seen his Red Devils side struggle to click under new boss Ruben Amorim.
Ratcliffe’s Ineos agreed a six-year deal as an All Blacks’ shirt sponsor in 2021, with the move worth £3.65million each year.
However, New Zealand rugby chiefs have now accused the petrochemical company of attempting to end their sponsorship three years early.
They claim Ineos are yet to pay out any of this year’s fee.
And legal proceedings have now been launched as the All Blacks look for a new sponsor.
A bombshell statement read: “New Zealand Rugby (NZR) is disappointed that Ineos has breached its sponsorship agreement.
“Most recently, it failed to pay the first instalment of the 2025 sponsorship fee, confirming its decision to exit our six-year agreement.
“Having learned of Ineos’ decision to walk away three years early, we have moved to protect the interests of New Zealand Rugby and the wider game.
“We have been left with no option but to launch legal proceedings to protect our commercial position.
“NZR is actively pursuing new commercial opportunities, and global interest in the All Blacks and other Teams in Black remains high.
“We are committed to being world-class on and off the field, and deliver unique value to sponsors through our iconic brands.”
Ineos have not commented on New Zealand’s claims.
According to the Telegraph, it is not the first deal Ineos have dropped this year.
Last month they parted ways with Ben Ainslie’s America’s Cup Team.
And it comes as Ratcliffe embarks on drastic cost-cutting measures at Manchester United.
Around 250 redundancies have been made as ticket prices have gone up.
And Ratcliffe, who increased his minority stake to 28.94 per cent last month, now hopes to build a mega new stadium as part of an Old Trafford regeneration project.