AON To Sponsor Manchester United
Manchester United football club welcomed their new sponsors AON last night, as they swap one insurance broker for another. their sponsAIG (American Insurance Group) were forced to pull out of or package with United (which reportedly cost them £14m per year) after the US Treasury bailed out the American firm earlier this year.
AIG have had an extremely tough few months, made worse by the collapse of the Prudential’s purchase of their Asian offshoot AIA. According to Prudential, they pulled out of this purchase of AIA because the Treasury wanted $24.5billion for it, a price the Pru considers to be ‘clearly overvalued’.
United’s new sponsor AON had to shell out a hefty £80m for the high-profile sponsorship, although whether or not that is worth the investment is arguable.
AON appeared to be extremely happy with the deal, stating that they were pleased to work with the club, and that they shared the teams’ desire for success based on teamwork, tradition and integrity.
Manchester United aren’t exactly enjoying their best ever financial period either, with shirt and official merchandise sales dropping drastically in the UK. This is because supporters have been opting for the yellow and green of the club’s original guise Newton Heath, as a way of demonstrating against the way the club has been run by American owners The Glazers.
United’s new sponsors, AON, are an American company, although they have operations in more than 40 countries worldwide. They specialise in risk management, human capital consulting and reinsurance. AON work primarily with insurance, dealing with all kinds of insurance including long term and short term car insurance, as well as one day insurance and numerous other types of policy.
On a side note, if you’re looking for insurance and you’re UK based, ignore the big American companies; you’re far more likely to get a good deal from a locally based provider. Don’t believe that? Get online and find sites that give an instant car insurance quote from both UK and American providers, and you can pretty much guarantee they’ll be a substantial difference in cost.
Tags: AIG, AON, finance, insurance, Manchester United, Sponsors
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