AIG: From Riches to Rags
Posted on Jun 3, 2009
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.
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.
Cristiano Ronaldo, star midfielder for Manchester United, will be wearing a brand new jersey next season.