Ineos’ decision-makers at Manchester United have come under a lot of scrutiny of late due to their unpopular decisions, on and off the pitch.
The latest hit to their credibility was felt recently, when it was revealed how much it cost to sack Erik ten Hag and his staff, along with the elongated gaffe that was Dan Ashworth’s hiring.
Add to that the countless redundancies, and a January window that has left the Man Utd squad’s attacking ranks barebones, Man Utd fans are well within their rights to be wary.
- READ: Confirmed Manchester United transfer deals for January 2025, ins, outs, loan moves, deadline date
However, their all-in commitment to the club has been shown through another act recently as GRV Media’s Head of Finance Adam Williams delves deep into a decision that can have massive ramifications for the club’s financial status.
Ineos to stop financing Tottenham
The reality of Man Utd’s financials was laid bare recently when the club disclosed their quarterly results, showing that the gross debt has comfortably crossed the £1 billion mark.
It is not unreasonable to think that the alarm bells would be ringing around Old Trafford if not for Ineos‘ investment to buy a stake in the club.
The financial bottom line has been Sir Jim Ratcliffe’s main concern since taking part-ownership and in that vein, they seem to have taken a decision that shows their commitment.
The Times recently reported that Ineos are set to break their sponsorship agreement with Spurs before time Adam Williams explains how it can be a part of their long-term plan to go all-in on United.
Williams explained to United in Focus: “We’ve been expecting something like this since the part-takeover went through last year. It’s not unprecedented but it is unusual for a firm to own one club while simultaneously funding a direct rival indirectly through a sponsorship arrangement.”
“I imagine that if this was happening more regularly, it would be something that the Premier League would look to address in its conflict of interest rules – although clearly there is no question of where Ratcliffe’s loyalties lie.
“Naturally, there has been some attention around the Ineos story given that they seem to be scaling back their investment in sports advertising.
“They’ve terminated deals with Ben Alinslie’s America’s Cup team and there is the ongoing issue with the All Blacks too. I think this separation will be more harmonious. There might be a break clause.”
Man Utd could be set to benefit from new sponsorship
Now that Ineos are set to withdraw from their deals to sponsor Spurs, Williams has explained that it could be a precursor to injecting more money into United via the Premier League’s fair market value rules.
United’s commercial income currently stands at about £302 million which is 46% of their total revenue.
Ineos sponsoring United by becoming their automobile sponsor via Grenadiers is a completely valid and legal avenue to inject more commercial income into the club without taking on more stake/skirting PSR rules.
Williams explained: “They might be reallocating their budget to pile their chips on Man United, so I wouldn’t be at all surprised to see them do a sponsorship deal with the club. They don’t have an automobile sponsor at present and Grenadier can fill that gap/
“It’s another way of getting extra funds into the club at a time when they are up against it in terms of PSR. They won’t be able to inject whatever they like because of the Premier League’s fair market value rules, but it will allow them to do a more favourable deal than they might have done with another automobile firm otherwise.”
It remains to be seen if that is the way Ineos go eventually but the timeline plus Sir Jim Ratcliffe’s clear affinity for United more than his other projects seems to indicate that more cash injection via a sponsorship is in the offing.
Receive a digest of our best United content each week direct to your mailbox
