Rumours out of Korea claim that the Company may strike a massive $125M + sponsorship deal with Manchester United for the 2010 British Premier League season. Currently the Company is sponsored by the struggling US Company American Insurance Group (AIG).
Rumours out of Korea claim that the Company may strike a massive $125M + sponsorship deal with Manchester United for the 2010 British Premier League season. Currently the Company is sponsored by the struggling US Company American Insurance Group (AIG).
Samsung is at the end of a $95 million dollar 5 year shirt sponsorship deal with Chelsea Football Club with this set to expire in June 2009.
“Manchester United has recently sent an official letter asking if it’s possible to seal a new shirt sponsorship deal,” a Samsung Electronics spokesman told The Korea Times, Sunday.
According to sources close to Samsung’s sports marketing, the Korean company has been in detailed internal talks since then to study how the possible partnership change will impact its business in Europe.
“The rumor that Manchester United has requested $30M in annual support from Samsung, however, is exaggerated,” according to the spokesman.
As for further financial details, such as possible contract terms and the deal size, the official said, “Nothing has been decided on yet.”
Such remarks came after the logo of which currently adorns the front of the Red Devils’ jerseys, announced a few months ago that it wouldn’t extend its four-year deal with the club when it expires next year.
In the wake of the global credit crunch, AIG recently needed a $150 billion bailout from the U.S. government to avoid bankruptcy.
