Tottenham Hotspur has filed a lawsuit seeking £11 million (approximately 20.5 billion won) in damages against the Ineos Group, led by Sir Jim Ratcliffe, co-owner of Manchester United. The club has initiated formal civil proceedings citing breach of contract, and it has been confirmed through the 'Telegraph' on the 26th (Korean time) that they submitted specific claims to the High Court.
The 'Telegraph' reported on the 26th, "This lawsuit centers on the official partnership contract between Tottenham and Ineos Automotive," noting that "Tottenham entered into a contract worth at least £17.5 million (approximately 32.6 billion won) over five years with Ineos in 2022, promoting the 'Ineos Grenadier' as the 'official 4x4 vehicle partner.'
The Tottenham club claims that Ineos did not pay the annual partitioning amount (over £5 million) due by December 1 last year and failed to pay approximately £500,000 related to inflation adjustments that were due on August 16 of the same year.
Accordingly, Tottenham officially terminated the contract as of March 11, 2024, local time, and is also claiming compensation for the minimum damage amount of £5.275974 million (approximately 9.8 billion won) that could have occurred during the remaining contract period of over two years.
The claim document also includes details of the contract. According to the contract, Ineos was required to pay a certain amount each year, starting at £2.125 million in the first year and increasing to £4.6 million by the fifth year. Value-added taxes and inflation-linked clauses were also included.
According to the 'Telegraph', Tottenham stated regarding this matter, "Along with interest, we are also demanding other relief deemed appropriate by the court." However, the club did not provide an official comment.
Ineos stated, "We established a partnership with Tottenham Hotspur in 2022, and the contract was an expansion of our cooperation with the Ineos Group that has been maintained since 2020," adding, "We held the right to terminate according to the contract and exercised that right in December 2024."
According to reports, when news of the lawsuit was first revealed last December, Ineos told the 'Telegraph', "Like any corporations, we had to consider the efficient execution of our marketing budget and have regularly reevaluated the effectiveness of the partnership. We determined that this contract was not as effective as expected, and the termination was a legitimate exercise of rights."
The lawsuit was filed at a significant time. In May, Tottenham secured a place in the UEFA Champions League by defeating Manchester United, in which co-owner Sir Jim Ratcliffe holds equity, 1-0 in the Europa League final. The lawsuit was initiated shortly after this victory, less than a month later.
The collaboration between Tottenham and Ineos began during the COVID-19 pandemic in 2020. At that time, Ineos was named the club's 'official hand sanitizer supplier' and later expanded into sponsorship centered around its off-road SUV brand, 'Grenadier.'
Meanwhile, Ineos has been restructuring its partnerships with various sports organizations recently. Partnerships with the global sailing team Ben Ainslie and the New Zealand rugby team, the All Blacks, have also been halted. The 'Telegraph' reported that "In fact, in February of this year, the New Zealand Rugby Union also initiated legal action against Ineos for breach of contract, and a settlement was later reached."
Ineos claims to be experiencing financial pressure due to carbon tax burdens in Europe. The company warned that "the extreme carbon taxes in Europe are collapsing the industrial base," and earlier this year announced the closure of its synthetic ethanol plant in Grangemouth, Scotland, leading to a reduction of over 80 direct jobs and more than 500 indirect jobs.
Separately, significant financial restructuring is taking place within Manchester United following Ratcliffe's acquisition of a 27.7% equity stake. Price increases for season tickets and staff reductions numbering in the hundreds are notable examples.
Tottenham originally described the contract with Ineos as a "combination of an innovative British brand and a prestigious London club that values tradition," but the termination of the contract and the lawsuit now reveal how sharp and conflictual that partnership’s ending has become.
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