Why Manchester United owners INEOS have agreed to pay Tottenham almost £11m

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Tottenham’s kitty has just been boosted to the tune of several million after the North London club threatened a legal battle against Man United’s minority owners, INEOS.

Since the start of the summer, Tottenham and INEOS have been making claims and counterclaims after the multinational corporation reneged on a commercial agreement.

INOEOS announced a multi-million-pound, five-year deal with Spurs in December 2022 to promote the INEOS Grenadier car as the club’s ‘official 4×4 vehicle partner’.

However, the firm ended the agreement prematurely last year, and Tottenham took High Court legal action on June 12 against INEOS, demanding compensation for their losses.

Tottenham receive over £5m in compensation from INEOS

It was previously reported that Spurs were seeking £11m from INEOS, which includes £5.5m for missed payments last year, another £5.3m for the 2026-27 campaign, and an additional £300,000 in interest.

It has now been revealed by The Telegraph that Sir Jim Ratcliffe’s company has agreed to compensate Spurs for their losses.

The total figure paid to Tottenham Hotspur is undisclosed, but the outlet claims to have spoken to a source close to the situation, who stated the agreed figure was around half what the North Londoners were demanding.

The publication revealed that they reached out to both Tottenham and INEOS regarding the matter, but both sides declined to comment.

INEOS’ strategy to counter-sue Spurs failed

A couple of months ago, it emerged that INEOS had counter-sued Tottenham, claiming that the club had started negotiating with a competitor for rights that were exclusive to them under their agreement.

INOES’ defence stated that even though Spurs’ commercial partnership with Audi did not materialise, it was after the club had begun discussions with the German automotive manufacturer that the parties had agreed to terminate their deal.

INEOS thus argued that it was them who were due more than £1m from Tottenham for failing to provide any rights to the company in the final part of year three of the agreement.

However, financial experts predicted that Spurs and INEOS would reach an out-of-court settlement, and that is what has happened, with the Lilywhites getting a big financial boost.