AIG No Longer Sponsoring Manchester United Football Club
Manchester United seemed more than happy to change insurance brokers recently, as they changed their main sponsor from AIG to AON. Their previous sponsors, the disgraced AIG (American Insurance Group) pulled out of their £14m per year sponsorship package with one of the biggest football clubs in the World, after the American company were bailed out earlier this year by the US Treasury.
AIG have suffered an appalling couple of months, with their recent attempted sale of AIA (their Asian offshoot) to Prudential falling through. This collapse is, according to the Prudential, because the US Treasury ‘clearly overvalued’ the Asian operation at a whopping $24.5billion.
AON have apparantly paid an incredible £80m to be the main sponsor of the Premiership club, although given the fact that they didn’t win anything last year, the price could be seen as a risky investment.
AON however seem to be very excited about the deal, stating that they were happy to be working with the club, who shared their desire for success.
Manchester United aren’t exactly enjoying their best ever financial period either, with shirt and official merchandise sales dropping drastically in the UK. This is mainly down to supporters spending their money on the Newton Heath colours of green and yellow, as they protest against the club’s American owners.
The company AON are American based, although they operate in over 40 countries all over the World. They specialise in risk management, human capital consulting and reinsurance. As you can probably tell the company work mainly in the insurance industry, dealing with annual and short term car insurance, as well as one day insurance and many other types of cover.
On a seperate note, if you’re UK based and after insurance, you should avoid the American companies like AON, as you’re stand a much higher chance of getting a good deal from a provider based in your local area (or at least country). Don’t believe me? Go on the internet and get yourself an instant car insurance quote from both UK and American providers, and you can pretty much guarantee they’ll be a substantial difference in cost.
Other articles you might like;
