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Economic Woes Could Crunch United's Shirt Sponsors
The main sponsors of Manchester United, AIG, whose logo appears on the team’s shirts, are rumoured to be the next possible casualty of the worldwide credit crunch.
Sep 15, 2008 12:26:57 PM
Cristiano Ronaldo, Alex Ferguson and Carlos Queiroz - Manchester United (PA)
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AIG are in a £56.5million, four-year deal to sponsor Manchester United.
It is the biggest such deal in British football, but AIG have now had to apply for emergency funding from America's central bank.
The insurance giants are believed to have asked the US Federal Reserve for a massive £22billion short-term loan in an attempt to beat the threat of liquidation.
The company have already lost an estimated £10billion so far this year as a direct result of the crisis in the US sub-prime mortgage-lending crisis.
The threat to United follows hot on the heels of the collapse of West Ham's shirt sponsor, travel firm XL Leisuure.
AIG became United's main sponsors in 2006. Their deal has a further two years to run.
Mark Hinton, Goal.com
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