AIG shirts sponsorship for Man Utd next to go?

AIG.jpg
AIG sponsorship of Man Utd in jeopardy
AIG is in a financial mess and is asking the Feds to pony up a $40 billion loan to stave off credit agencies downgrading its stock which will bring it a step closer to bankruptcy or to the preferred takeover. With the Feds deciding against bailing out Lehman Brothers and leaving the company to file for bankruptcy, there is no sure bet that AIG’s lifeline will be met. AIG lost 64% of its stock value today as it failed to give a plan to save its rating.
Man Utd’s shirt sponsorship is worth $25 million a year. Its the richest sponsorship of its kind in the world. Chump change for a financial behemoth but these are exceedingly troubled times. Even well to do firms like Goldman Sachs have cut down on incidentals like free sodas and water for their employees. They have to buy their own. There is no guarantee that AIG will honour their sponsorship as they look to restructure and save on expenses that do not tangibly increase their assets.

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