[SIGN OF THE TIMES] AIG, the American insurance giant so closely identified with last September's economic crisis, will not renew its sponsorship with English club Manchester United when it expires in May 2010 and is seeking to reduce expenditures related to its agreement between now and then.

Once the world's biggest insurer, AIG was bailed out by the U.S. government with funds now totaling $152 billion.

It is cutting costs and selling assets to repay the government for the lifeline it provided to avoid bankruptcy.

United hopes to announce a new sponsor soon. Among the possible sponsors being mentioned is Indian company Sahara, which is a major sponsor of Indian cricket.