12/18/24
January 21, 2009
Manchester United No Longer America's Team: AIG, the giant insurer acquired by the U.S. government late last year, is ending its sponsorship of Manchester United when the $78 million current deal expires in 2010. Sponsorships provide the team with one-third of its revenues, and as Forbes observes, "If it can't get a new sponsor to pay out a similar or higher amount ... club owner Malcolm Glazer will find it even harder to repay the debts he saddled the team with when he bought it in 2005."
That's a pretty big sponsorship deal to replicate in this economic climate. I know the Premiership is one of the most profitable leagues in the world, and Man U's the biggest team globally, but I expect they'll get a smaller deal to succeed AIG.
As for Ronaldo, I figured he was a goner after this season.
posted by rcade at 12:31 PM on January 21, 2009
Don't worry, Sir Alex: there will be other businesses with money to burn. Just ask the New York Yankees, who are spending money like the end of the world will soon be upon us -- or maybe it's their own version of a stimulus package. There will big fish with deeper pockets who will be more than willing to share their wealth with Man U and gain global exposure.
posted by jjzucal at 09:49 PM on January 21, 2009
As the world's most valuable sports team I don't believe United will have any problems finding a replacement for AIG at the same levels in money.
If someone can be found to give enough money to Man City for them to be able to put out a $150m offer for Kaka with a straight face then there's enough money around for United to get their hands green too.
posted by Mr Bismarck at 07:21 AM on January 22, 2009
The AIG story actually came on the heels of this.
posted by Texan_lost_in_NY at 02:35 PM on January 22, 2009
Given the club's global profile, and assuming the keep Lady Boy in the squad, I think the Red Devils will easily find many suitors for the spot. And I would think better of Forbes and the linked article if the only source for the rumor that the Glazers might be selling the Buccaneers wasn't essentially a sworn enemy. Twelve months from now we'll either be off the bottom, with executives eager to show the recovery through a splashy shirt deal, or none of us will much care who owns United.