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Wednesday, January 21, 2009
Bailed-out AIG to drop pricey sports team sponsorships

One of the reasons I've been blogging relatively lightly in the past few weeks is that I've discovered the Fox Soccer Channel is part of my digital cable package. Although I've been enjoying a number of great soccer games, it is always a bit jarring to see a team of millionaire soccer players running around in jerseys that proudly display the name of a corporation that has recently come begging for money to the U.S. taxpayers.

Today, Reuters broke the story that insurance giant and bailout recipient AIG will not be renewing its $100 million sponsorship of Manchester United, a top English soccer team. AIG is also seeking to renegotiate its current sponsorship -- likely in an effort to escape from the contract's remaining years.

At the time of the bailout, AIG and other corporate sports sponsors receiving federal funds, like Citi, insisted they had no plans to discontinue such sponsorships even in the face of public criticism and the common "Taxpayer field" jokes.

Expect AIG's lead to be followed by other recipients of bailout funds.


FSC is the one channel I miss from that network; almost justifies the whole thing existing.

Will be interesting to see how much they end up paying for early termination.

As a U.S. taxpayer, I want the government to run an offer: anyone who owes taxes and pays them before 15 April 2009 gets a free ManU/AIG shirt. (AIG employees who receive a bonus in March not eligible.)

Blogger Ken Houghton -- 1/21/2009 2:17 PM  

While this was a very on point and astute post, I am more greatful for the inspiration to go check my cable to see if I too had FSC now. and I DO! so thanks, channel 226, I never would have even looked before reading this.

Anonymous Anonymous -- 2/11/2009 1:32 PM  

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