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New Zealand Rugby Team Watch

Wilson

Wilson

Rod McCall (65)
No, nothing specific but it sounds like they're generally re-arranging and rethinking their sports investment. There's a bit more detail here, particularly on the changes in their sailing, cycling and football positions recently:
www.telegraph.co.uk

All Blacks sue Sir Jim Ratcliffe’s Ineos

Company, which agreed a six-year partnership with New Zealand Rugby, accused of failing to pay first instalment of 2025 sponsorship fee
www.telegraph.co.uk www.telegraph.co.uk
 
waiopehu oldboy

waiopehu oldboy

George Smith (75)
^ if that's what you're doing you give the other party a heads-up so they can put something in place before the sponsorship ends. Just walking away mid-contract is a shit way to do business & makes me wonder if Ineos has some balance sheet/ cash flow issues.
 
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Dan54

Dan54

David Wilson (68)
Yep well they pulled out of Amreica's Cup haven't they? Think Ineos have sunk near a billion in Manchester United, so may just be finding need to save some $s?
NZR will have to line up, Ben Ainslie's America's cup team is also suing them.
 
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dru

dru

David Wilson (68)
Yes, an absolute shit show by Ineos. Fingers crossed NZRU can resolve alternatives quickly.
 
waiopehu oldboy

waiopehu oldboy

George Smith (75)
Full AB 2025 schedule:

Saturday July 5, 7.05pm – All Blacks v France, Forsyth Barr Stadium, Dunedin

Saturday July 12, 7.05pm – All Blacks v France, Sky Stadium, Wellington

Saturday July 19, 7.05pm – All Blacks v France, FMG Stadium, Hamilton

Rugby Championship

August 16, Argentina, TBD

August 23, Argentina, TBD

Saturday September 6, 7.05pm – All Blacks v South Africa, Eden Park, Auckland

Saturday September 13, 7.05pm – All Blacks v South Africa, Sky Stadium, Wellington

Saturday September 27, 5.05pm – All Blacks v Australia, Eden Park, Auckland

Saturday October 4, Kickoff TBC – Australia, Perth

Grand Slam tour

Sunday November 2, 9am – All Blacks v Ireland, Soldier Field, Chicago

Sunday November 9, 3.10am – All Blacks v Scotland, Murrayfield, Edinburgh

Sunday November 16, 3.10am - All Blacks v England, Twickenham, London

Sunday November 23, 3.10am – All Blacks v Wales, Millennium Stadium, Cardiff
 
waiopehu oldboy

waiopehu oldboy

George Smith (75)
waiopehu oldboy said:
^ if that's what you're doing you give the other party a heads-up so they can put something in place before the sponsorship ends. Just walking away mid-contract is a shit way to do business & makes me wonder if Ineos has some balance sheet/ cash flow issues.
Click to expand...

According to stuff.co.nz "...credit agencies Fitch Ratings and Moody's [are] forecasting that INEOS' debts could soar to almost €12 billion, or more than five times it's annual earnings."
 
Wilson

Wilson

Rod McCall (65)
waiopehu oldboy said:
According to stuff.co.nz "...credit agencies Fitch Ratings and Moody's [are] forecasting that INEOS' debts could soar to almost €12 billion, or more than five times it's annual earnings."
Click to expand...
That might make it pretty difficult for NZRU to recover much more than cents on the dollar from them. Certainly they won't be seeing it any time soon.
 
Dan54

Dan54

David Wilson (68)
Wilson said:
That might make it pretty difficult for NZRU to recover much more than cents on the dollar from them. Certainly they won't be seeing it any time soon.
Click to expand...
Agree Wilson, but the threat will keep INEOS talking, and the only chance to get any money from them. Also if they just shrug and walk away, will make it hard for any team anywhere to be confident of sponsorship deals I imagine.
 
Wilson

Wilson

Rod McCall (65)
Dan54 said:
Agree Wilson, but the threat will keep INEOS talking, and the only chance to get any money from them. Also if they just shrug and walk away, will make it hard for any team anywhere to be confident of sponsorship deals I imagine.
Click to expand...
With INEOS sure, but sponsoring sports teams isn't actually their business. It won't really effect other teams looking for sponsors though, lots of companies have collapsed and defaulted on their sponsorships in the past and it doesn't change much in the broader market.

That's not to say NZ shouldn't open legal proceedings, but they should be pretty bloody careful investing too much in the hopes of recovering any money, it's a narrow and difficult path to that outcome and with those sorts of numbers and the wider problems INEOS apparently have it's increasingly unlikely there will be much of anything for them to recover.
 
Brumby Runner

Brumby Runner

Jason Little (69)
Wilson said:
With INEOS sure, but sponsoring sports teams isn't actually their business. It won't really effect other teams looking for sponsors though, lots of companies have collapsed and defaulted on their sponsorships in the past and it doesn't change much in the broader market.

That's not to say NZ shouldn't open legal proceedings, but they should be pretty bloody careful investing too much in the hopes of recovering any money, it's a narrow and difficult path to that outcome and with those sorts of numbers and the wider problems INEOS apparently have it's increasingly unlikely there will be much of anything for them to recover.
Click to expand...
Not sure how widespread it is, or not, but Ineos has been a huge sponsor of a British-based world cycling team for Yonks. Have always had the reputation of being the largest sponsor in the sport.
 
Wilson

Wilson

Rod McCall (65)
Brumby Runner said:
Not sure how widespread it is, or not, but Ineos has been a huge sponsor of a British-based world cycling team for Yonks. Have always had the reputation of being the largest sponsor in the sport.
Click to expand...
Oh they're very widespread as far as sports sponsorship goes, but they're bailing out of a lot of it (spurs are the latest club they've been pulling the pin on) because they're core business is failing. As involved in sport as they have been it's still very much a vanity project with tenuous financial benefit to the rest of the business at the best of time. They're not going to be at all worried about reputational damage from pulling out now effecting their ability to sponsor other sports in the future, their concerns right now are more along the lines of survival.
 
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