Insurance giants AIG have announced that they will not be renewing their sponsorship deal with Man Utd.
Sponsorship deal will not be renewed
Insurance giants AIG have announced that they will not be renewing their sponsorship deal with Manchester United.
The current four-year partnership with the Red Devils is set to reach a conclusion in 2010.
A US Federal Reserve needed to step in and rescue the financially crippled company last year; with United aware for some time that they would need to find a suitable replacement as their major sponsor.
The search for a suitable alternative has already begun, with Indian corporation Sahara having already confirmed contact with the reigning Premier League champions.
In addition, the Old Trafford outfit are keen to explore their Malaysian and South Korean links and remain confident that they can secure a deal which will eclipse the £19million contract they signed with AIG.
"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 Phil Townsend.
"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."
