AIG to end United sponsorship

Insurance giant AIG has confirmed it will not be renewing its £19 million-a-year sponsorship deal with Manchester United when it expires in 2010.

The insurer has been the shirt sponsor of the current English, European and world football champions since 2006.

But the credit crunch and subsequent global financial crisis has seen AIG forced to restructure in the wake of a massive bailout from the US Federal Reserve.

United have insisted however that the loss of AIG will not present a major problem to long-term plans.

"In line with industry practice, Manchester United is exploring the possibility of a shirt sponsor for the new 2010/11 season," a spokesman told the Press Association.

The representative added that club bosses were hopeful a more lucrative deal could be found.

"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," he said.

Indian corporation Sahara has confirmed initial contact with United, while the club's presence in South Korea and Malaysia could also yield possible sponsors.