Manchester United insist it is 'business as usual' at Old Trafford despite the near collapse of major sponsors AIG ahead of what would have been the biggest bankruptcy America had ever known.
The US financial giant was saved by a multi-billion dollar cash injection on Tuesday night due to the US Federal Reserve's active involvement by ploughing in £47billion, forcing 80% of the company into state hands.
But United, who have just embarked on the third part of a four-year deal with AIG worth £56.5million, remain calm as a spokesman for the Glazer family said: "It is business as usual for us."
Indeed, the Glazers, who have previously attracted a lot of criticism for the massive debt they took on to buy the club in 2004, are eager to confirm the European Cup winners remain on a stable financial footing.
Only last month United signed a massive £9.3million marketing contract with Saudi Telecom, giving it a major foothold in the cash-rich Middle East, with other deals in the process of being negotiated.
And, contrary to recent speculation, the club's corporate boxes are running at 96% of capacity this season, higher than 12 months ago.
"Manchester United is financially strong," insisted the spokesman. "We have not been adversely affected by the credit crunch."
Having seen their previous deal with Vodafone terminated at short notice, United will be glad they have not found themselves in a similar situation, although there has been some suggestion that the club's recent on-field success could lead to an increase in sponsorship should AIG eventually call time on the current deal.
Copyright (c) PA Sport 2008, All Rights Reserved.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: https://www.givemesport.com/writeforgms