New Zealand Rugby and Ineos reach settlement over sponsorship dispute

New Zealand Rugby and Ineos reach settlement over sponsorship dispute

Sports


The New Zealand and INEOS rugby game reached a settlement agreement after their dispute over the sponsorship.

The Petrochemical Company, owned by the British, which has a stake in Manchester United as part of its sport portfolio, has moved early in the NZ Zero.

It was a step that led to legal action from the Board of Directors.

On Monday, both parties issued a statement to say that the case had been resolved.

“New Zealand and INEOS can confirm that the settlement has been reached between the two parties,” said in the joint statement.

“While the details remain secret, both organizers are satisfied with the result and recognize the desire to move forward now.”

Ineos, headed by Sir Jim Ratcliffe, agreed in 2021 to become a performance partner in NZR from 2022 to 2027.

The INEOS brand on the background of playing short pants and at the front of the country's training shirts, including the World Cup winners three times in the All Blacks and Stids World World The Black Ferns.

However, NZR said in February that Inus “failed to pay the first batch of sponsorship fees 2025, confirming its decision to exit our agreement for a period of six years.”

Quoted from the non -chemical industry in Europe, due to “high energy taxes and severe carbon taxes” in addition to “getting rid of manufacturing in Europe,” Inus said in a statement at the time: “We had to implement measures to save costs throughout the work.

“We sought to reach a reasonable agreement with All Blacks to control our care in light of these challenges.”



Source

Leave a Reply

Your email address will not be published. Required fields are marked *