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AIG to end sponsorship of United

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Old 01-21-2009, 07:31 AM   #1 (permalink)
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AIG to end sponsorship of United
Quote:
Originally Posted by BBC.co.uk

The troubled US insurer AIG will not be renewing its shirt sponsorship deal with Manchester United that expires in May 2010.

AIG agreed to pay £14m-a-year for four years for the shirt sponsorship and also has a longer £5m-a-year deal to run MU Finance.

It is currently restructuring itself, having received a $150bn (£109bn) bail-out from the US government.

It is not clear whether the MU Finance deal will continue.

AIG signed a six-and-a-half year deal at the beginning of 2008 to offer insurance, credit cards and mortgages using the MU Finance brand.

Manchester United said that it had already started talking to a select group of potential sponsors.

Its spokesman added that it was normal to begin the process this early because technical issues surrounding the manufacturing of shirts meant that it has to know who will be its shirt sponsor for the 2010/2011 season by the autumn.

Last week in Macau, Manchester United chief executive David Gill said he would not be surprised if the AIG shirt sponsorship deal was not renewed.

AIG has already ended its sponsorship deal with the US Davis Cup tennis team.
This doesn't surprise me at all. It's been well documented the problems that they've had. Plus there's always going to be a line of companies’ queuing around the block to put its name on the famous red shirt, even during this financial crisis we seem to be experiencing.
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Old 01-21-2009, 09:05 AM   #2 (permalink)
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Re: AIG to end sponsorship of United
lol, they damn well better stop forking over cash for shirt deals, while they are sucking money from a government who doesnt have any
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Old 01-21-2009, 10:53 AM   #3 (permalink)
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Re: AIG to end sponsorship of United
I don't see why sponsorships keep pulling out on them, first Sharp, then Vodafone and now AIG?
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Old 01-21-2009, 10:57 AM   #4 (permalink)
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Re: AIG to end sponsorship of United
Quote:
I don't see why sponsorships keep pulling out on them, first Sharp, then Vodafone and now AIG?
It's nothing to do with United, it's just these companies are losing money, and need to tighten their belts. One easy way out is to stop sponsoring a football team.
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Old 01-21-2009, 11:05 AM   #5 (permalink)
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Re: AIG to end sponsorship of United
Sharp and Vodafone came before the economic downfall.
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Old 01-21-2009, 11:12 AM   #6 (permalink)
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Re: AIG to end sponsorship of United
AIG is accepting bailout money from the US government, while its executives take 200,000 dollar "stress relief" vacations, while their brand is on one of the more exclusive soccer shirts in the world. THey at least have to ACT a little bit poor...
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Old 01-21-2009, 11:19 AM   #7 (permalink)
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Re: AIG to end sponsorship of United
Well I left out AIG because I guessed it would be down to the credit crunch but I was making the point that Sharp and Vodafone pulled out before all of this.
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Old 01-21-2009, 11:26 AM   #8 (permalink)
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Re: AIG to end sponsorship of United
Yeah I don't know why the others pulled out. I remember Vodafone's official statement actually sounded quite offensive lol.

Will be interesting to see what our next sponsor is.
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Old 01-21-2009, 11:31 AM   #9 (permalink)
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Re: AIG to end sponsorship of United
Uncle Joe's Meatballs is my guess.
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Old 01-21-2009, 11:33 AM   #10 (permalink)
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Re: AIG to end sponsorship of United
You don't have to be in an economic downfall to lose money. But I was wrong, Vodafone didn't pull out because of monetary problems.

Quote:
Will be interesting to see what our next sponsor is.
My guess is some Asian Company
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