Revealed: How much Sir Jim Ratcliffe has agreed to pay Tottenham after legal update
INEOS has been embroiled in a legal battle with Tottenham over the past few months.
Tottenham took legal action against INEOS after the petrochemicals company exited a sponsorship deal with the club three years into a five-year agreement.
INEOS, which is spearheaded by Manchester United co-owner Sir Jim Ratcliffe, first partnered with Spurs in 2020 after agreeing to become their official hand sanitiser and 4×4 vehicle partners before the deal was later expanded in 2022.
Tottenham have been seeking just over £11million, which included £5.5m for missed payments last year, another £5.3m for the 2026-27 campaign, the final year of the sponsorship deal, and an additional £300,000 in interest.
Tottenham agree out-of-court settlement with INEOS
It later emerged INEOS was counter-suing Tottenham for more than £1m after accusing them of holding sponsorship talks with Audi linked to the sale of Harry Kane to Bayern Munich, with the German manufacturer owning an eight per cent stake in the Bundesliga club.
The England captain joined the German champions from Spurs in a £100m deal in August 2023.
Finance expert Stefan Borson told Football Insider in July INEOS was likely to pay Tottenham around £5m to settle the dispute.
In a new development, The Telegraph reported on Wednesday (5 November) INEOS has now reached an out-of-court settlement with Tottenham.
Although the amount paid to the north London giants is undisclosed, the newspaper revealed a source has indicated it could be about half of the £11m pursued by the club.
Sir Jim Ratcliffe criticised after Man United cuts
The latest update comes as no real surprise after it’s been expected Tottenham would agree a settlement with INEOS.
However, it isn’t the only case of this nature the petrochemicals giant has faced in recent times.
It was revealed in March INEOS had reached a settlement agreement with New Zealand Rugby (NZR) after a six-year sponsorship deal was ended early.
NZR launched legal proceedings against INEOS in February after alleging the company had failed to make a payment for the first part of this year.
Meanwhile, Ratcliffe has also faced criticism from Man United fans following his cost-cutting measures, which have included charity cuts and staff redundancies at Old Trafford.
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