Global belt tightening brings mixed fortunes to the big four

Manchester Utd’s £14m-a-year- AIG shirt sponsorship looked to be on rocky ground earlier this week, and the future of the deal looked no more certain as the US Federal Reserve rescued the insurance behemoth with a £47bn refinancing package yesterday: rather understandably, they will no longer consider sports sponsorship a ‘core activity’.

According to this morning’s Guardian, however, the frailty of the American International Group should not concern United as much as the intentions of the Glazer family. Malcolm and co have been forced to spend $150bn on ‘PIK‘ loans in recent months, the interest on which is a hefty 14.45 per cent. A Glazer representative insists that “the investment is for the long term,” although the Guardian strongly suspects ex Football League chairman, United fan and major dealmaker Keith Harris is touting

He’s trying his best to sell the club, honest

Mike Ashley, Dennis Wise and Derek Llambias will fly back from Dubai today after an unsuccessful sales trip. It wasn’t unsuccessful because of complicated financial negotiations, but rather because they chose to skip the boring business bit and drink mojitos instead:

According to arabianbusiness.com, Dubai investors were waiting for Ashley in the Mina A’Salam Ramadan Tent in the Madinat Jumeirah Hotel for their 11pm meeting but he was instead in the nearby Bahri Bar knocking back cocktails.

Surely the Arab businessmen knew the meeting would never materialise if it was scheduled for 11pm. By that time, Ashley has usually downed his sixth pint and removed his ‘King Kev’ Newcastle shirt, and Wisey is conducting his second or third assault of the evening.