Manchester United Stuck With AIG For Another Year

As I was saying not long ago in my post about AIG and their bizarre, irresponsible behaviour, Manchester United are seeking a new sponsor to replace the £56.5 million four-year deal with AIG which expires at the end of the 2009-10 season.

The European champions are confident of securing a lucrative agreement by the autumn and it seems most likely that Saudi Telecom or Indian financial services company Sahara are favourites to take over from AIG. However, with next season's United strip – due to be launched in China on the first-leg of the club's Far East tour in July – already in production with the AIG logo in place, moves by AIG to change its name to AIU could leave United with a redundant sponsor for the duration of the 2009-10 campaign.

A Nike spokesman said: "For the 2009-10 season all Manchester United shirts and training products have been produced with the AIG logo in line with the company's continued sponsorship of the club. The speculation surrounding AIG had very little impact on the process of manufacturing this product."

Such has become the bad feeling toward AIG in America the company's security team has been forced to warn US-based employees to take special precautions and "avoid wearing any AIG apparel with the company insignia" as a result of growing hostility towards the company following revelations of bonuses paid to employees from bail-out funds.

The company's Manhattan offices have already been renamed AIU Holdings and chief executive Edward M Liddy has admitted that AIG have no option but to change their discredited name.

Liddy said: "I think the AIG name is so thoroughly wounded and disgraced that we're probably going to have to change it."

United are due to receive the final £14 million instalment from AIG ahead of the start of next season, but the American company, rather than United or Nike, would be forced to foot the prohibitive cost of any logo changes on next term's kit.

The club will play in the four-team Audi Cup in Munich at the end of July. The two-day competition, held at Munich's Allianz Arena, will feature United, Boca Juniors, AC Milan and Bayern Munich.

United will face Boca on July 29 following their four-game tour of the Far East before tackling Milan or Bayern in the final/third-place play-off on July 30.....Back To Home Page...

AIG, Have You No Shame?

Americans should stick to what they know best and specialise in the things they are good at rather than intruding in matters they have little or no knowledge about in order to make a fast buck. Especially when it comes to sports and team ownership. It's especially infuriating when they can't even get the name of the sport right. I'm talking of course about football. We call it this for a very simple reason, it is played using your feet.

The Glazers turned up at Old Trafford and turned it into a giant commercial exercise. While I appreciate the fact that the money funds new players etc etc the fact that the real value of the hardcore fans is being diminsihed by Glazer and his money grabbing family. Manchester United has been around for 137 years and have a very colourful history, which is probably half the appeal with the Glazer family, after all, America has very little history in comparison to the UK and Europe.

Alongside Glazer we also have another American company sponsoring our shirts and these people are nothing short of liars, thieves and con men. They are so atrocious at their job they needed the US government to bail them out of their own mess to the tune of $152 billion in order to stop a collapse.

Now, all the top employees, or should I say all the idiots who got them in the mess have accepted bonuses, yes BONUSES can you believe !!!

These bonuses in some cases amount to 100s of thousands of $s.

That is theft of the money of US citizens and should be given back with a sincere apology for even thinking they are due this money. It is purely and simply immoral to even consider these bonuses and it defies belief they paid the bonuses out.

So, if you worked for AIG, would you take the money?

The company has taken billions in taxpayer bailout money, and AIG workers still think they are entitled to bonus money, in large part just for sticking around. Except, of course, for the people who left and who are still getting retention bonuses.

Understand, these people getting millions in bonuses aren't exactly broke. They've got nice salaries, and they work in a corporate headquarters that reportedly has a gym, tennis court and gourmet restaurant. But the company is dead broke and is taking many Americans down with it.

And what message does it send to the rest of us about incentive when these folks are taking millions amid such economic disgrace and mismanagement? They failed. Yet, they're cashing in.

Fail this miserably at your job and what do you risk? Everything. That's why we work so hard to save a job or an industry. And to save our way of life.

That, apparently, didn't apply at AIG. So what if you mismanage the investment accounts of your customers? So what if you take big chances that imperil your entire company? You walk away with millions anyway. They risked nothing.

How hard would you work if you knew, win or lose, you could walk away with millions? That's a big problem in professional sports, and it's a big problem in too many of our glass offices and boardrooms.

What should an AIG employee who got a bonus do? How about an agreement promising future bonuses if and when the company recovers and they perform? Even more simply, how about attempting to look grateful for the taxpayer help in trying to keep their company and their jobs afloat?

With the world watching AIG, why on Earth would they be so arrogant? Why would they give the government or House Speaker Nancy Pelosi a reason to wag a finger at them?

Where is the personal responsibility and accountability?

The United States government doesn't need another reason to think that American people can't make smart decisions on their own without its help and oversight. U.S. Rep. John Dingell last week proposed a 95% tax on the bonuses. Now what happens when someone actually deserves a bonus? AIG has kicked the door wide open for public scrutiny of private business. Good grief, what is wrong with you people?

AIG says they are contractually obligated to dole out the bonuses to avoid lawsuits. Please. There may be contracts, but no one is contractually or morally obligated to take it.

One of my favorite movie scenes is in "Saving Private Ryan." At the end, a dying Captain Miller, played by Tom Hanks, tells Private Ryan, played by Matt Damon: "Earn this. Earn it."

As the world's economy is dying, the folks at AIG should watch that scene, because as far as I can tell, they've earned nothing.

You people at AIG are a fucking disgrace, get your shitty logo off our shirts and go crawl under some rock in America where you belong and stay the fuck away from Football in Europe. We love this game and it has a very interesting and eventful history with very, very few things to blemish it - that is until the American money men and their greed invaded it !!!

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Manchester United Approach Sahara For Sponsorship Deal

Premier League, European and world club champions Manchester United have sent a shirt sponsorship proposal to 'Sahara Group' 16 months before the end of their current deal with American insurance giants AIG.

Spokesman for Sahara, Abhijit Sarkar said of this matter:

“We can confirm that we have received a proposal for team sponsorship, it is an elaborate one. We received the proposal a few days ago. At this stage I cannot give any more details.

United’s four-year $100 million deal with AIG runs until the end of next season and a club spokesman confirmed on Tuesday that Sahara were one of the companies approached as a potential replacement.

“Our current arrangement comes to an end in 16 months or so and we have begun approaching various organisations with a view to organising a new deal,” the spokesman said.

This seems a new approach by United as they tout themselves to the biggest companies in the world in search of the best deal.....Back To Home Page...

Who Actually Does Sponsor Manchester United ?

If you ask anyone "Who are the sponsors of Manchester United ?" they will tell you it's AIG and they will be right. Well, they will be 11% right. The reason for this is that during these days of multi million transfer fees and sky high salaries, sponsorship of a football team has become big business, huge business in fact.

Manchester United actually have a total of 11 sponsors and I'll tell you who they are.

AIG

American International Group, Inc: They are a major American insurance corporation based at the American International Building in New York City. The British headquarters are located on Fenchurch Street in London, continental Europe operations are based in La Defense, Paris. and its Asia HQ is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was the 18th-largest public company in the world. It was on the Dow Jones Industrial Average from April 8, 2004 to September 22, 2008.

Nike

is a major publicly traded sportswear and equipment supplier based in the United States. The company is headquartered in the Portland metropolitan area of Oregon, near Beaverton. It is the world's leading supplier of athletic shoes and apparel. and and a major manufacturer of sports equipment with revenue in excess of $18.6 billion USD in its fiscal year 2008 (ending May 31, 2008). As of 2008, it employed more than 30,000 people worldwide. Nike and Precision Castparts are the only Fortune 500 companies headquartered in the state of Oregon, according toThe Oregonian.

Kumho Tyres

formerly known as Samyang Tire, is a South Korean industrial conglomerate ("chaebol") headquartered in Gwangju, South Korea. Kumho means "bright lake" in Korean. It is a subsidiary of the Kumho Asiana Group, as is Asiana Airlines, Korea's second largest airline.

Budweiser

(Anheuser-Busch) is an American-style lager and is one of the most popular beers in the United States. Budweiser is made with a proportion of rice in addition to barley malt, for which it has received some criticism, though the company takes the position that the rice gives the beer a lighter taste. Budweiser is produced in various breweries located around the United States and the rest of the world. It is a filtered beer available in draught and packaged forms. It has 5.0% alcohol by volume and 145 calories per 12 oz., except in Utah, Kansas, Minnesota and Oklahoma where a 3.2% alcohol by weight (4.0% by volume) strength is available due to state laws. Minnesota and Colorado require 3.2% alcohol by weight beer only at select public events and beer being sold in grocery stores and gas stations.

The name derives from the Bohemian city Budweis (Budweiser meaning "from Budweis" in the German language), which was part of the German HRE until 1806, then Austrian Empire until 1918, then Czechoslovakia until 1993, then Czech Republic (since 1920 using Czech name České Budějovice). The long tradition of brewing beer in Budweis started in 1265. In 1795, the German citizens founded a brewery named Budweiser Bier Bürgerbräu. In 1895, Czech brewers followed, founding the brewery called Budějovický Budvar.

Bet Fred

is a United Kingdom based bookmaker, named after its characterful Northern England frontman and co-founder Fred Done. It was first established as a single shop in Ordsall, Salford, in 1967. Its turnover is over £1.5 billion, a nearly threefold rise since 2003's £550 million. The company has more than 700 UK betting shops It claims to be both the world's biggest privately owned betting company, and the UK's biggest privately owned retail outlets.

Saudi Telecom

I've detailed Saudi Telecom before, here.

Hublot

is a Swiss enterprise creating luxury watches and founded in 1980 by Carlo Crocco.

Hi Seoul

is an annual cultural festival held on every May 1 to May 9 in Seoul, South Korea since 2003. It is based on the "Seoul Citizens' Day" held on every October since 1994 to commemorate the 600 years history of Seoul as the capital of the country. The festival is arranged under theSeoul Metropolitan Government.

Viagogo

is an online ticket exchange aimed at the European and North American market. It aims to allow people to buy and sell live event tickets in a safe and guaranteed way, and to bring "efficiency and transparency to what has traditionally been a murky market place". It allows live event tickets to be bought and sold at any price, including above and below face value, and allows anyone to use the marketplace as long as they follow the rules. It charges buyers a 10% fee and sellers a 15% fee on each confirmed transaction......Back To Home Page.....

New Shirt Sponsors For Manchester United

According to some reports Saudi Telecom are favourites to replace AIG on the famous Manchester United shirt from next season.

AIG, who signed a four-year, £56.5 million deal with United back in 2006, have been hit hard by the credit crunch, so much so that George Bush and his merry men had to bail them out to the tune of $85 Billion. Naturally, under such financial pressure they are thought to want to terminate their agreement.

Saudi Telecom already have one foot in the door at Old Trafford having signed a £10m, five-year deal in August to advertise on United's website and around the stadium. They also send 70 Saudi students each year to train with the club and are thought to be very keen to step into AIG's shoes and display their brand on the United shirt.....Back To Home Page.....

Manchester United + Hublot = More Money !!

Manchester United have signed a new multi-million pound sponsorship deal with Swiss watch manufacturers Hublot. The three-year contract comes hot on the heels of similar contracts with Saudi Telecom, Seoul Metropolitan Government and Budweiser.

It just goes to show that despite all the moaning and groaning by the Anti-Glazer brigade the United brand has become stronger and stronger, even during a worldwide economic slump which has seen West Ham's shirt sponsor XL go into administration and Manchester United's other sponsors AIG be effectively bought out by the US government.

While some critical fans vehemently opposed to the Glazer family ownership will continue to insist United's finances are precarious, club officials will point to increased sponsorship as evidence to the contrary.

David Gill, Manchester United's Chief Executive said: "We are delighted to welcome such a prestigious partner as Hublot to the Manchester United family, their reputation for excellence and innovation makes them a fitting and exciting sponsor for the club. Sir Alex (Ferguson) is known as a stickler for timekeeping, both on and off the pitch, now we have a partner that shares his passion." .....Back To Home Page

Manchester United Sponsors AIG Party With Tax Payers Money

The world's largest insurance company and sponsors of Manchester United, AIG, spent $440,000 on a lavish corporate retreat at one of California's top beachside resorts a few days after accepting an $85bn emergency loan from the US government to stave off bankruptcy.

Am I over reacting here or is that a bit rude and inconsiderate ? I can tell you that if I was a tax payer in the USA I would be a little bit upset to say the least ! At the end of the day, it is the fault of these wannabe playboy wankers oooops bankers with their high living partying lifestyle earned by gambling with the money of others, that this whole world wide credit crunch is wreaking havoc world wide. So what do they do ? They hold a party !

Details of the week-long getaway enraged legislators at a congressional hearing yesterday where AIG's former bosses were accused of spending taxpayers' money on pedicures, golf games and cocktails. Crippled by losses on financial insurance companies, AIG was bailed out by US taxpayers on September 17th to avert a collapse which risked causing further failures.

The House oversight committee, which is investigating the company's problems, confronted AIG executives with an invoice from the St Regis resort in Monarch Beach, south of Los Angeles, detailing an eight-day company event which began five days after the rescue.

"Average Americans are suffering economically," said Henry Waxman, chairman of the committee. "They are losing their jobs, their homes and their health insurance. Yet less than one week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation."

The bill shows that AIG spent $139,375 on rooms, $147,301 on "banquets", $23,380 on spa treatments and $6,939 on golf at an eight-day company event which began on September 22.

"US taxpayers will be, in effect, paying for this," said Elijah Cummings, another Democrat, who demanded to know who was responsible for the outlay. "I think that person ought to be fired."

Rooms at the resort start from $500 a night and the travel guide Fodor's gives the place a rave review, saying: "Exclusivity and indulgence carry the day here; you can even have someone unpack for you."

Apparently though, according to AIG it is OK, it was to entertain freelance insurance salesmen who sold life, health and accident policies for the group's US subsidiary. Incredible !

AIG's former CEO who got the boot after AIG got into trouble amused me too saying it "seems very inappropriate. If I had been aware of it, I would have prevented it from happening," he added. How very gallant of you Mr Willumstad. It's just a shame you feel able to react in a timely manner to stop a party but you were unable to spot a world financial crisis which crept up on you and kicked your ass out the door Mr !!

Oh, and should anyone from AIG get to read this, you still owe Manchester United £28m so cough up before you party that away too.....Back To Home Page

Manchester United Waiting On The Outcome Of AIG Meeting

Manchester United are waiting on the outcome of a meeting this week of US Treasury officials where they will discuss the financial rescue of the Reds' shirts sponsors AIG - the under-fire American insurance giant.

No doubt the Anti-Glazer brigade will all be saying "I told you so" as if they could have forecast the current global financial crisis. Not that it's relevant because they tend to moan about anything and everything United do these days !! But they still stick around and make sure they are part of all the glory that comes to the club, Hmmmmmmmm.

Insiders on Wall Street are saying that it could begin moves to cancel the £14m-a-year agreement with United. However, United have already banked this season's instalment and are confident that another global Blue Chip company would be keen on replacing AIG on the shirts if the rug is whipped from under the current deal.....Back To Home Page

Manchester United's AIG Sponsorship Deal Looks In Jeopardy

Manchester United are on the brink of losing
their lucrative shirt sponsorship deal with AIG
according to the Daily Mirror. The American
insurance giants are looking to cut costs.

The English and European champions are still
owed half of the money on the £56million
agreement they sealed with AIG two years
ago.

After being rescued from meltdown by a huge
£43billion loan from the American government
last month, AIG have now embarked on a new
massive moneysaving exercise.

That is likely to spell bad news for United - and
fans who have bought replica kits with the AIG
logo.

There will be no shortage of companies queuing
up to replace AIG on the famous red shirt.

But the end of the deal would still be a blow for
Malcolm Glazer (left) and his family as they bid
to secure refinancing on the £700m they took
out to buy the club.

A new sponsorship deal would take time to
secure and is unlikely to be as lucrative as the
AIG agreement.

Bad news indeed ! Especially as the re-
financing deal was set to make life easier
for United with regard loan repayments
etc etc, but the anti-Glazer mob have
something else to moan about now at
least. The replica shirt problem wont
affect me, I refuse to wear anything made
by Nike, Adidas and Reebok because they
use child labour which is tantamount to
child abuse and I don't want any part of
their sordid business.