United turned down by company for shirt sponser

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http://www.dailymail.co.uk/sport/football/...r.html?ITO=1490

Manchester United have been given the cold shoulder in a £300million bid to find a new shirt sponsor.

Who's gonna pay for my new shirt? Cristiano Ronaldo looks concerned

Norwegian-based Statoil Hydro have turned down an approach from United to succeed the beleaguered worldwide insurance conglomerate AIG, whose four-year deal ends next year but could yet be terminated early after their bail-out by the US government.

Reida Gjaerum, Statoil’s communications director, said: ‘It would have cost us £60m a year. We could not really justify spending such a vast sum over the next five years.

'We didn’t believe we would get the benefit of becoming shirt sponsors because Statoil Hydro are not that type of company and that’s why we said no.’

United are under pressure to find a shirt sponsor amid speculation AIG will pull the plug early on their deal.