AIG in financial call threatens Man U's £14m a year sponsorship deal - HotUKDeals
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AIG in financial call threatens Man U's £14m a year sponsorship deal

warmapplepie Avatar
8y, 2m agoPosted 8 years, 2 months ago
AIG have made a multi-billion dollar financial call and could be the next big finance company to collapse.

This puts into jeapardy the £14m a year sponsorship money for Man U.
warmapplepie Avatar
8y, 2m agoPosted 8 years, 2 months ago
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Comments/page:
#1
Boo Hoo. My heart bleeds. ( ha ha ha ha)
#2
Forget about £14 m ... If AIG goes under youre talking about a domino effect resulting in losses of a trillion +

The fed cant afford for AIG to collapse...
#3
Forsaken
Forget about £14 m ... If AIG goes under youre talking about a domino effect resulting in losses of a trillion +

The fed cant afford for AIG to collapse...


Now that is a common-sense thought.
#4
Same position as West Ham, we had XL our sponsor go under, they still had £5 million of sponsorship money left to pay, we're going to get that from them but not only that we can now charge for another sponsor this season and next even though we would have already earnt sponsorship money so it's actually quids in
#5
To be honest this doesn't matter a lot to Man Utd. If AIG go under Man Utd will simply get their £14 Million from another sponser.
banned#6
The JFK
To be honest this doesn't matter a lot to Man Utd. If AIG go under Man Utd will simply get their £14 Million from another sponser.


:thumbsup::-D
#7
The JFK
To be honest this doesn't matter a lot to Man Utd. If AIG go under Man Utd will simply get their £14 Million from another sponser.


And their £14 million from AIG from the creditors (or the best part of it at least)

As I said quids in
#8
RedIron - somewhat inaccurate as West Ham would be an unsecured creditor which in turn would result in it most likely getting zilch for the unpaid portion
banned#9
RedIron
And their £14 million from AIG from the creditors (or the best part of it at least)

As I said quids in


I doubt that. If they want money from the creditors they would have to complete the length of the contract and wouldnt be allowed to remove the logo for a new sponsor. Cant have it both by breaking a contract and still say they owe you money through creditors.
#10
Forsaken
RedIron - somewhat inaccurate as West Ham would be an unsecured creditor which in turn would result in it most likely getting zilch for the unpaid portion


Actually no as our owner is the owner of the bank who funded the the takeover of XL. He tied the West Ham sponsorship deal into the original loan to buy XL and charged a higher internet rate for the privilege. It is from that where our sponsorship money comes from, that original loan was secured so we are fine

Our owner could have easily lent the money to XL to make sure that they didn't go bust but it made more sense financially to him for them to go bust so he sat back and watched it happen. Ruthless but most millionaires are
#11
Very clever if that is indeed what he did and insolvency courts dont "interfere" by upholding the administrator's argument that no further payment is due given the decision to terminate the sponsorship so early into the season. Weirder things have happened :)
banned#12
castortroy;2977217
Boo Hoo. My heart bleeds. ( ha ha ha ha)

People really should think a bit more before posting :roll:

1500 UK jobs would go for starters, not to mention the knock on effect across the UK insurance market.

5000 UK jobs went at Lehman Bros yesterday.

This could be the biggest slump in history. EVERYONE will lose in a major way apart from the small group of families who run the world and own the government banks (Fed reserve, bank of england etc). They will just create more money to lend to us thus making them even richer and developed nations even more in debt.
#13
Completely agree with you csiman

Unfortunately, people sometimes dont look at the bigger picture

Although very different to the Great Depression, what we are currently experiencing is something that happens every 100 or so years - its just mind boggling

Thankfully the fed saw the systematic risk posed by AIG and stepped in yest evening to take control of it with a $85 billion bailout

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