Manchester United has agreed a new four-year shirt sponsorship deal with Chicago-based insurance firm Aon Corporation.
UK newspaper The Times reports that the deal is worth £80 million over the four years, making it the biggest shirt sponsorship deal in football history. The sponsorship begins at the start of the 2010-11 season.
The Times reports United also held talks in recent weeks for the deal with Indian financial services company Sahara, and telecommunications firm Saudi Telecom.
Aon defended doing the deal during a difficult economic period in which it has cut pension benefits for 5,400 UK staff.
“The economic downturn has affected virtually all businesses, but we felt that we had to continue to be forward thinking in our attitude,” the company said.
“An opportunity such as this to build a world-recognised brand rarely presents itself and it seemed that we should grab it now and reap the rewards in the years to come.
“In general, our sector has been less affected than those of the other global financial services providers and so we were fortunate to be in a position where we could seriously consider an opportunity of this scale.”
The Times reports that Aon Corporation employs 37,000 staff around the world, in 500 offices in 120 countries. Its revenues last year were $7.6 billion. As well as selling insurance, it also acts as a consultant on pension, employment and risk management issues for companies. Its shares are traded on the New York Stock Exchange. It trades as Aon UK Ltd in Manchester United’s home country, employing 5,400 staff.
