Manchester United announced a four-year shirt sponsorship agreement with Chicago-based insurance broker Aon Corp. on Wednesday in what may be the biggest deal of its kind.
An Aon logo will adorn the United players’ red shirts for four years starting with the 2010-11 season, replacing that of American insurer AIG.
The Premier League champions did not announce financial terms but British newspapers reported that the deal was worth 80 million pounds (C$144 million) over the four years.
That is about 40% more than AIG was paying and 17% more than Bayern Munich’s shirt sponsorship with mobile phone provider T-Home.
“Today’s announcement clearly strengthens our position as one of the biggest clubs in world football,” United chief executive David Gill said.
On a conference call with media, Aon chief executive Greg Case would not comment on terms of the deal.
The most dominant English team of the past 16 years, United drew even with Liverpool last month by winning its 18th league championship.
The northwest England club, which has also won the elite Champions League twice in the past decade, is valued at US$1.8 billion by Forbes Magazine.
It has huge debts following Malcolm Glazer’s leveraged buyout in 2005, but sponsors are still attracted by a brand with fans across the world.
AIG received a bailout from the U.S. government in September and said four months later it would not renew its four-year sponsorship with United when it expires at the end of next season.
