American AIG, which focuses on finance and insurance, suffered a devastating blow in the financial turmoil. At present, it has to rely on the money of the American government and taxpayers to survive. Yesterday, AIG, which was mired in the quagmire, officially announced that it would not renew its sponsorship contract with Manchester United after it expired next season. According to the current contract, Manchester United can get a sponsorship fee of190,000 pounds from AIG every year.
When European and American enterprises scratched their heads for the financial turmoil, the rich Middle East oil countries were not affected. As a leading telecommunications company in Saudi Arabia, Saudi Telecom is eager to cooperate with Manchester United to expand their overall influence in the Middle East.
In fact, there is already a sponsorship contract between Saudi Telecom and Manchester United. While paying the Red Devils 6.5438+0.5 million pounds a year, the company has also been authorized by Manchester United officials to use the trademark of Manchester United Club on their products. With the withdrawal of AIG, Saudi Telecom is no longer willing to play a supporting role, and plans to increase the sponsorship fee to 25 million pounds per year in the next five years, totaling 654.38+0.25 billion pounds, thus officially becoming a "full member" and becoming the main sponsor of Manchester United.
According to the future development plan of Saudi Telecom, they intend to expand their business to Malaysia, Indonesia in Southeast Asia and South Africa in Africa. In these fields, Manchester United has unparalleled popularity and influence. In a series of summer business activities announced by Manchester United not long ago, Saudi Telecom successfully won the sponsorship right of Malaysia Station.
A Manchester United club spokesman said in an official statement: "Manchester United is looking for a sponsor for the 2010-1season chest advertisement. We have contacted many top companies and screened them. The new sponsorship contract will exceed the current annual190,000 AIG, and the club is very confident about this. " It is reported that apart from Saudi Telecom, Manchester United also maintains close contact with the Indian company Sahara. The group's business involves finance, real estate and other fields, with strong strength. At present, they are sponsors of the Indian national cricket team.