Richmond to seal deal with United sponsor
Sam Edmund | October 15, 2008
RICHMOND is poised to share the same jumper sponsor as the world's biggest sporting club, Manchester United.
The Tigers are set to announce a lucrative deal with global insurance and financial services giant AIG (American International Group).
Richmond has signed a heads of agreement with the Australian arm of the American-based company.
It is expected to finalise a deal with meetings over the coming days.
The arrangement was struck despite AIG being hit by the credit squeeze, requiring an $85 million bailout by the US Government.
Manchester United secured a four-year $98 million deal with AIG in 2006 in the biggest of its kind in English football.
The exact details of the Richmond deal are unknown, but it is believed to be over three years and bigger than the previous major sponsorship arrangement with AFG (Australian Finance Group) worth $800,000 a season.
AFG officially ended its three-year tenure at the end of the season, telling Richmond it could not continue as a major sponsor because of the changing financial climate.
It's believed the Tigers have been locked in negotiations with AIG since AFG revealed in July it would end its commitment.
AIG executives from Hong Kong have arrived in Melbourne with the aim of signing off on the deal before the end of the week.
An agreement would pair AIG and Dick Smith Electronics as co-major sponsors of the Tigers.
http://www.news.com.au/heraldsun/sport/afl/story/0,26576,24498584-19742,00.html