Manchester United has signed insurance giant AON as its shirt sponsor in a four year deal for an undisclosed sum.
The insurer’s logo will replace beleagured US rival AIG from the start of the 2010/11 season.
AIG’s four year deal set a new high in sports sponsorship when it paid a record £14m a year for its four year deal, which ends next May.
AIG is in the process of restructuring after the US government rescued it from collapse to the tune of $150bn (£109bn) last year.
Chicago-based AON specialises in the reinsurance market. Neither the football club or the insurer have disclosed the value of the sponsorship deal, but some reports have valued it at £80m over four years.
Aon said it hoped that its relationship with Manchester United would help to improve its brand recognition. After its first year sponsoring the team, AIG became the 47th most recognised global brand and jumped from number 84 to number 30 on Barron’s list of most respected companies.