Manchester United's co-owners INEOS are in talks with Tottenham Hotspur to end their sponsorship agreement with the club earlier than planned, sources have told ESPN.
The petrochemicals giant - which owns 28.9% of United - signed a five-year deal with Spurs in 2022 to promote a 4x4 Grenadier car with the company's logo featured prominently at Tottenham's stadium during matches, including when Ruben Amorim's side lost 1-0 in north London on Sunday.
However, sources have told ESPN that amicable discussions are taking place with a view to ending the multi-million-pound agreement as INEOS continue to scale back their involvement in various sports.
New Zealand Rugby confirmed last week that they were taking legal action against INEOS after they exited a £3.7 million-a-year sponsorship deal which is not due to end until 2027. INEOS cited the "deindustrialisation of Europe" as one reason for their decision to end the All Blacks agreement.
Sir Jim Ratcliffe's company have also ended a partnership with Sir Ben Ainslie's America's Cup team with INEOS planning to compete under their own Britannia name.
Ainslie said in response that he was "astounded" by INEOS' plans. It has also been reported by the Daily Telegraph that INEOS were close to splitting with Mercedes' Formula 1 team last year after fraught sponsorship negotiations.
INEOS will mark one year of their association with United on Thursday and sources say they are considering further redundancies at the club to reduce costs.
The club's quarterly accounts for the final three months of 2024, released on Wednesday, revealed their operating profit had dipped from £27.5m to just £3m compared to the same period in the previous year.
The decisions to give Erik Ten Hag a new contract last summer only to sack him nine games into the season cost United £10.4m.
