Petrochemicals giant INEOS has confirmed that its sponsorship agreement with Tottenham Hotspur will remain intact.
This is despite the company’s founder, Sir Jim Ratcliffe, inching closer to acquiring a 25% stake in rival club Manchester United, according to The Telegraph.
The multi-year sponsorship deal between INEOS and Tottenham came to light after United announced they were looking for investment in November last year.
Since its inception, INEOS Grenadier 4×4 branding has adorned the Tottenham Hotspur Stadium, especially on dugout seat headrests.
Tottenham players have also actively participated in corporate videos promoting Grenadier vehicles, providing additional funds for the club.
Despite the impending deal with Man United, INEOS will continue its association with Spurs.
Ratcliffe’s potential involvement with Man United will reach a crucial juncture this week. The proposed investment will be discussed during a board meeting on Thursday.
The acquisition would result in Ratcliffe assuming full control over footballing matters at the club, positioning United as a prominent jewel in the INEOS sporting empire.
The partnership with Tottenham is a relatively minor deal for INEOS, which has also invested in Formula One, cycling, sailing and rugby.
Ratcliffe’s potential stake in Man United would bear similarities to his company’s principal partnership with eight-time F1 champions Mercedes, where the company is a one-third shareholder, owning the team with Mercedes-Benz Group AG and Toto Wolff.
Apart from these ventures, Ratcliffe’s sporting portfolio encompasses French Ligue 1 club OGC Nice, Swiss Super League side FC Lausanne-Sport and successful cycling team INEOS Grenadiers.
INEOS’ connection with Tottenham started in December 2020 when INEOS Hygienics became the official hand sanitiser supplier of the club.
If Ratcliffe’s proposal is accepted during the board meeting on Thursday, he will assume control over sporting matters just ahead of the January transfer window.
Any formal agreement would also necessitate a declaration on the New York Stock Exchange.
However, Ratcliffe would still need to pass the Premier League’s rigorous owners’ and directors’ test to complete the transition.
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