AIG: From Riches to Rags

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AIG: From Riches to Rags

telegraph.co.uk

Cristiano Ronaldo, star midfielder for Manchester United, will be wearing a brand new jersey next season.

It looks like the $150 billion bailout of AIG included everything but advertising funds. After four years of the insurance giant’s logo gracing the jerseys of one of the world’s most famous soccer teams, troubled economic times are bumping the iconic symbol in favor of a new sponsor.

The BBC:

Manchester United has signed a four-year shirt sponsorship deal with the insurance giant Aon Corporation.

Aon will replace troubled US insurer AIG, which is restructuring itself having received a $150bn (£109bn) bail-out from the US government.

The new sponsor will appear on Manchester United’s shirts from the start of the 2010/11 season.

Aon is based in Chicago and specialises in reinsurance, which is the selling of insurance to other insurers.

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TAGS: aig aon bailout economic crisis football insurance manchester united soccer sports

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By PatrickHenry, June 5, 2009 at 4:42 pm Link to this comment

We should have let it fail and chop it up into smaller less lethal businesses.

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By SINGLE PAYER, June 3, 2009 at 6:53 pm Link to this comment

It is horrible about all the bailouts and outrageous corruption. It is even more horrible how they same cast of characters are running the recovery for President Obama.

Nobody indicted but old bumbling Bernie Madoff. But he was just free-lancing, just another hard-working American enterpreneur, a self-made man. Hell, he might get the “Horatio Algier Award.”

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