America’s Cup: All Blacks sue INEOS over sponsorship non-payment
by Richard Gladwell/Sail-World.com 10 Feb 16:14 PST
11 February 2025
INEOS Britannia was the flagship for several of the major INEOS brands – 2024 America’s Cup – Oct 18, 2024 © Ian Roman / America’s Cup
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Following the much publicised split in the INEOS Britannia America’s Cup team, NZ Rugby has revealed that it is taking legal action against INEOS [Group], for alleged breach of a $NZD48million ($USD27million) sponsorship deal.
The deal was for NZD$8million (USD$4.5million) per year for six years. According to news reports NZ Rugby claim they have not been paid for the first year’s installment.
The All Black sponsorship covering both the mens and womens teams was one of the flagship sponsorship deals for the petrochemical conglomerate. New Zealand Rugby said in a statement to the Daily Telegraph last Friday, that it was “left with no option” but to launch legal action over what it says is a breach of sponsorship agreement.
In the statement NZ Rugby alleged the company owned by British billionaire Sir Jim Ratcliffe had ended its six-year sponsorship deal, estimated to be valued at 22 million pounds ($NZ48.2m), which began in 2022.
In a statement released to Telegraph Sport, New Zealand Rugby said that INEOS, which agreed a six-year deal to become official performance partner to the All Blacks until 2027, failed to pay the first instalment of the 2025 sponsorship fee.
New Zealand news sources had it that INEOS was wanting to exit from the last three years of the six year deal, and that triggered the non-payment of the first installment.
Interestingly the All Black sponsorship is no longer featured on the www.ineos.com/sports website.
The site continues to carry confirmation of INEOS Britannia’s intention to Challenge for the 38th America’s Cup, without its skipper for the last two Cups, Sir Ben Ainslie and his team Athena Racing. For his America’s Cup Challenge to progress Ratcliffe/INEOS need to find a new British club to lodge the Challenge on its behalf.
No date has been set for an opening of entries for the 2027 America’s Cup.
