Categorized | The Business of Soccer

AIG to stay on as Man United shirt sponsor

Posted on 26 November 2008 by ASN Staff

Embattled U.S. insurance giant AIG does not plan to cancel its costly jersey sponsorship deal with English Premier League club Manchester United. AIG is currently paying £14 million (about $22 million) a-year to the club in a contract that runs through 2010. An AIG spokesman told USA Today that the club’s sponsorship won’t be abandoned but that the company is “reviewing all sponsorships to identify any relationship that might be essential, to maintain the value of the business and service customers, so we can repay the (government) loan.”

AIG, one of the federally bailed-out financial institutions, canceled sports team sponsorships valued hundreds of millions of dollars. has not renewed long-term sponsorship relationships with likes of the New York Yankees, New York Knicks, Houston Rockets, Houston Astros, Madison Square Garden, AIG Japan Open (Tennis), Irish Champion Hurdle (Horseracing), and New Orleans Jazz Fest.

If AIG does abandon the contract, Korean electrical firm LG and Saudi Telecom are said to be waiting in the wings to take over the sponsorship deal.

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