SOCCER: Manchester United remain confident they will secure a new and improved shirt sponsorship deal when AIG end their four-year deal with the Old Trafford club in 2010.
The American insurance giant said this morning it would not renew its shirt sponsorship deal with the European, world and Premier League champions.
AIG also said in a statement emailed to Reutersthat it was "in active discussions" with United regarding the current contract.
As the US Federal Reserve needed to step in with a massive bail-out last year to keep AIG afloat, Red Devils executives have known for some time they would require an alternative sponsor and are currently in the process of trying to find a suitable replacement.
It appears the situation is not quite as bleak as it was when Vodafone gave six months’ notice of their intention to terminate in 2006.
Giant Indian corporation Sahara have already confirmed they are investigating United’s proposals, while Saudi Telecom would also be among the companies who could be involved.
In addition, the Old Trafford outfit have strong links in both Malaysia and South Korea, so even at a time of financial prudence around the world, United are still optimistic of bettering a contract worth £19million including various financial packages.
“In line with industry practice, Manchester United is exploring the possibility of a shirt sponsor for the new 2010/11 season,” said a United spokesman.
“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 £19million annual partnership with AIG.”
