Source:REUTERS/David Klein
[Saba Sports News] According to British media reports, INEOS has agreed to pay Tottenham over £11 million to quickly resolve a legal dispute. The company of Manchester United co-owner Ratcliffe was accused of breaching a five-year contract worth £17.5 million that enabled Tottenham to promote the company’s Grenadier as the club’s “official vehicle partner.” The agreement is believed to have been signed in 2022, though INEOS had partnered with Tottenham since being designated the club’s “official hand sanitizer supplier” during the COVID-19 pandemic. Tottenham terminated the partnership with Ratcliffe’s company in March this year and filed legal proceedings three months later. They claimed an annual installment exceeding £5 million wasn’t paid by December 1st, following another non-payment of approximately £500,000 related to inflation adjustments. Although the specific amount paid to Tottenham hasn’t been publicly disclosed, insiders revealed the agreed sum is about half of what the North London club originally demanded. Additionally, Tottenham terminated the agreement with over two years remaining, seeking nearly £5.3 million in compensation.