Aberdeen Shrimper
The Man who sold the world
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.
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.
