Source: REUTERS/Jason Cairnduff
[Saba Sports News] Recently, the New Zealand rugby team announced a significant development by suing the INEOS Group for prematurely terminating their sponsorship. In a statement, the New Zealand rugby team said, “Upon learning that the INEOS Group wishes to exit three years early, we have taken action to protect the interests of New Zealand rugby and the entire sport.” It is reported that the INEOS Group signed a six-year agreement with the New Zealand rugby team in 2021, becoming an official partner of the team, with the partnership valued at approximately £3.65 million per year. As part of the agreement, the INEOS name appeared on the team’s training and warm-up kits during the recent autumn international matches, and the brand’s logo was also printed on the back of the players’ shorts. INEOS is a company owned by Sir Jim Ratcliffe, a co-owner of Manchester United, and this legal dispute could impact its reputation in the sports sponsorship market.