New Zealand Rugby Team sues INEOS

[Saba Sports News] According to British media reports, the New Zealand Rugby Team announced on Tuesday that they are suing INEOS Group due to the latter’s intention to prematurely terminate their sponsorship agreement. INEOS Group signed a six-year agreement with the New Zealand Rugby Team in 2021, becoming the team’s official partner. However, it has been reported that Sir Jim Ratcliffe’s company intends to exit the agreement early. The New Zealand Rugby Team stated in a release: “Upon learning that INEOS Group wishes to exit three years early, we have taken action to protect the interests of New Zealand rugby and the sport as a whole. We have no choice but to initiate legal proceedings to protect our commercial position. The New Zealand Rugby Team is actively seeking new business opportunities, and global interest in us and other teams remains high.” It is reported that the partnership between INEOS Group and the New Zealand Rugby Team is valued at approximately £3.65 million annually. As part of the agreement, INEOS’s name appeared on the team’s training and warm-up kits during the recent autumn internationals, and the brand logo was also printed on the back of the players’ shorts.