06 Oct
Is Sports Recession Proof ? PDF Print E-mail
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Written by LansingSportsRage.com   
Monday, 06 October 2008

You've probably seen curious things in recent days. Despairing traders with their heads in their hands on the floor of the New York Stock Exchange. Charter members of the Wall Street elite carrying their belongings in boxes as they walk out the doors of what used to be investment banks. House leaders strategizing across the aisle in an attempt to marshal the rank and file into action.

All very strange.

But none of that is more curious than the scene at Old Trafford a couple of Saturdays ago. As Manchester United, possibly the world's most valuable sports franchise and arguably the most famous one worldwide, took to its hallowed pitch, its home red shirts (an appropriate color, as it turns out) were emblazoned across the chests with the logo of American International Group, previously the largest insurance company in the U.S. and now a ward of the state. At the time of its collapse and public rescue, AIG was just midway through a four-year sponsorship deal with Man U that will pay the club upward of $100 million. Not that U.S. taxpayers' money is really going offshore, mind you, since Man U's owner is Malcolm Glazer, a Rochester-born businessman who also happens to own the Tampa Bay Buccaneers.

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