New Zealand Rugby (NZR) has reached a settlement agreement with petrochemical giant Ineos following their dispute over the early termination of a sponsorship deal.
Last month, NZR filed a lawsuit against Ineos for alleged breach of contract after the company ended its six-year performance partnership three years early.
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The deal, signed in 2021 and worth a reported $4.5 million per year, was due to cover the 2022 to 2027 period, with Ineos branding appearing on the back of playing shorts and on the front of training jerseys for the men’s and women’s senior sides – the All Blacks and Black Ferns – as well as the New Zealand Māori team and New Zealand sevens team.
Yesterday (March 31), both parties issued a joint statement saying the issue had been resolved.
They said: “New Zealand Rugby and Ineos can confirm that a settlement has been reached between the two parties.
“Whilst the details remain confidential, both organizations are satisfied with the outcome and acknowledge a desire to now move forward.”
In its original lawsuit, NZR stated Ineos had failed to pay the first scheduled installment for 2025 and only informed the governing body at the end of January that they had been intending to exit the agreement effective from January 1.
At the time, NZR said: “New Zealand Rugby is disappointed that Ineos has breached its sponsorship agreement. Most recently, it failed to pay the first instalment of the 2025 sponsorship fee, confirming its decision to exit our six-year agreement.
“Having learned of Ineos' decision to walk away three years early, we have moved to protect the interests of New Zealand Rugby and the wider game. We have been left with no option but to launch legal proceedings to protect our commercial position.”
In response, Ineos said discussions with NZR were initiated to adjust the sponsorship as part of cost-saving measures.
Ineos owner Sir Jim Ratcliffe is a minority shareholder in English Premier League soccer giants Manchester United (although he has control over the on-pitch side of operations), and his company also runs the Ineos Grenadiers professional cycling team.
The news comes two months after Ineos parted ways with four-time Olympic champion Ben Ainslie, having backed his Britannia America's Cup sailing team since 2018.
The global chemicals producer also owns European soccer teams Nice (France) and Lausanne-Sport (Switzerland) and has a minority stake in the Mercedes Formula 1 motor racing team.
At the time of filing its lawsuit, NZR said it was “actively pursuing new commercial opportunities and global interest in the All Blacks and other teams in black remains high.”
Other NZR commercial partners, meanwhile, include brands such as Altrad, Adidas, Air New Zealand, Bupa, and Tudor.
