In 2019, INEOS and Jim Ratcliffe stepped in as Tottenham’s “official hand sanitiser and 4×4 vehicle partners. The petrochemical company extended its deal with Spurs in 2022, with the INEOS name gaining prominence at the Tottenham Hotspur Stadium. Two years later, INEOS and Ratcliffe are leading rivals Manchester United. Not entirely lucky, many would say. Now the parties have agreed on a solution, for Ratcliffe this will probably be a few million extra in expenses.
According to The Mail, Daniel Levy at Tottenham and INEOS agreed to cancel his contract earlier this month.
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Former Everton boss Keith Wyness talks about the process that ends with Tottenham walking out of the negotiating room smiling with a win.
“I think it was in the millions (pounds) in terms of INEOS to get out of the deal. “I think it’s embarrassing again for INEOS to have gone through a breach of contract clause, after making a strategic decision to get involved in a long-term contract with Spurs stadium,” Wyness told Football-Insider.
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“We all know that Daniel Levy’s strength is his commercial acumen and I think the commercial team at Spurs would have had a 4×4 category replacement ready. Rumours are that there is a discussion that was already active, so it is good for Spurs if they get money from INEOS and a new sponsor in place,” said Wyness.
Yep, embarrassing and expensive for Ratcliffe and INEOS.
