New Zealand Rugby and Ineos reach the dispute on sponsorship

New Zealand Rugby and Ineos have reached a transactional agreement following their dispute on a sponsorship contract.

The Petrochemical Society owned by British Ineos, which holds a participation in Manchester United as part of its sports wallet, soon went away from its sponsorship agreement of New Zealand rugby (NZR).

It was a move that led to a legal action From the government body.

Monday, both sides issued a declaration to say that the problem has been solved.

“New Zealand Rugby and Ineos can confirm that an agreement has been reached between the two sides,” reads the joint declaration.

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

Ineos, who is chaired by Sir Jim Ratcliffe, agreed in 2021 to become NZR’s performance partner from 2022 to 2027.

The agreement included the Ineos brand on the back of playing shorts and on the front of training shirts for the teams of the nation, including three times winners of the World Cup The All Blacks and six times champions of the female world The Black Forns.

However, NZR said in February that Ineos had not “not paid the first episode of the 2025 sponsorship tax, confirming his decision to leave our six -year agreement”.

Citing the chemical industry in difficulty in Europe, due to “high energy taxes and extreme carbon taxes” together with “the deindustrialization of Europe”, Ineos declared in a declaration at the moment: “We had to implement savings measures on costs throughout the company.

“We tried to reach a reasonable agreement with All Blacks to regulate our sponsorship in light of these challenges”.