American insurance company AIG have confirmed that they will not
be extending their sponsorship deal with Manchester United beyond
May 2010, when it is due to expire.
It is reported that AIG have been hit hard by the recent global
economic crisis, but will honour the remaining period left on the
deal.
It is being reported that Indian corporation Sahara are likely to
take over as the Red Devils' shirt sponsorship in 2010,
while Saudi Telecom is apparently another possibility.
Either way, it seems that Manchester United are confident that they
can better their current package which is reportedly worth £19
million, as they also enjoy good relations with the Malaysian and
South Korean markets.
"In line with industry practice, Manchester United is exploring the
possibility of a shirt sponsor for the new 2010/11 season," a
Manchester United spokesman is quoted as saying in the
Times.
"The club is in dialogue with a select number of top
companies worldwide and has so far received sufficient interest to
be confident it can improve on its current £19m annual partnership
with AIG."