Manchester United’s co-owners Ineos’ decision to withdraw multi-million-pound sports sponsorship deals around the world could have severe consequences for the survival of the All Blacks.
Ineos acquired a 28.9% stake in Manchester United early in 2024, but have started the new year by going on a cost-cutting crusade, seemingly trying to streamline their resources to try and rebuild the English giants, who have severe problems on and off the field.
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The British petrochemical giant, led by Sir Jim Ratcliffe, started the cost-cutting inside the club by significantly reducing the workforce.
In July 2024, Ineos implemented a redundancy program that saw 250 jobs cut across various departments. Even the legendary Sir Alex Ferguson wasn’t spared, as he was relieved of his £2 million-a-year ambassador role at the club.
More recently, in February 2025, reports indicate Ineos intends to cut an additional 100 to 200 jobs. These cuts follow a challenging financial period for the club, with cumulative losses of £370 million over the past five years and a net loss of £113 million in the 2023-24 accounts.
But they are also cutting short their partnerships with various sports teams around the world, including United’s Premier League rivals Tottenham Hotspur. It’s a strategic retreat from a sprawling sports empire that once spanned Formula 1 (Mercedes), cycling (Ineos Grenadiers), sailing (America’s Cup) and football.
Ineos’ original agreement with Spurs, signed in December 2022, was a five-year, multi-million-pound deal set to run until 2027, making Ineos Grenadier the "official 4x4 vehicle partner" of the Premier League club. However Ineos has entered "amicable discussions" with Tottenham to terminate this arrangement two years early.
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However, while Tottenham are likely to quickly replace Ineos as a secondary sponsor because of the popularity of the club and the Premier League, things are looking very bad for the All Blacks and New Zealand Rugby (NZR), who have started legal proceedings against Ineos for breach of contract
Ineos ended its six-year £22 million - signed in 2021 - three years early, and has failed to pay 2025’s instalment.
Financially, the loss of this sponsorship creates a substantial hole for NZR. The Ineos deal contributed roughly £3.65 million (R85 million) per year, funding not just the All Blacks but also the Black Ferns Women’s team, their sevens teams, Māori All Blacks, All Blacks XV, and Under-20s.
For context, NZR reported a R95 million loss in 2023, but according to reports that number could grow to R528 million by the end of 2025 as other deals are also in jeopardy because of the decline in value of competitions such as Super Rugby.
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If legal proceedings against Ineos fail to recover the full R253 million owed for the remaining three years, New Zealand rugby could be in big, big trouble. And this may filter down to the playing field.
This could force a change in their contracting system, which could see active All Blacks players get out of their central contracts and be allowed to ply their trade overseas while still being available for the national team.
NZR have been unwilling to change the rule to keep their best players competing in Super Rugby. But that competition’s popularity has dwindled following South Africa’s decision to play in the United Rugby Championship with teams from the United Kingdom, Ireland and Italy.
The Springboks made the decision to pick overseas-based players in 2018 and it has helped the pipeline produce even more quality players. The Boks’ overseas-based players are getting big money overseas, while the home-based players are playing a high level of rugby against other Boks locally and the best that the Northern Hemisphere has to offer.
The Springboks are due to face the All Blacks at Eden Park in the Rugby Championship on September 6. By that time the face of New Zealand Rugby—and indeed Manchester United—could have drastically changed.
@JohnGoliath82