AIG logo dominates All Blacks jersey
"AIG, if you want to appear in an All Black shirt start behaving like one and honour the silver fern and the NZ investing public who paid your premium in 2004 and deserve the compensation they contracted for with your group"
Featured commentControversial insurance giant AIG will sponsor the All Blacks until at least early 2018, in a deal which includes having its logo across the front of the black jersey.
AIG was bailed out by the US government to the tune of $182 billion in 2008, one of the biggest failures of the global financial crisis.
While the company has since recovered somewhat, and is buying back its stock from the US Treasury, there is still concern the company's underlying businesses are still struggling, according to Businessweek.
The agreement comes after AIG became the official front-of-jersey sponsor for the US junior and collegiate All-American teams. The insurer is trying to shake off the damage to its brand when the US Federal Government bailed out to the tune of US$182.3 billion during the global financial crisis, which it repaid last month.
NZRU chief executive Steve Tew says the sponsorship is the second most valuable rugby sponsorship deal after adidas.
The AIG deal will not affect adidas, Mr Tew says, which will carry on as principal sponsor until at least 2019.
Under the new arrangement, AIG will also sponsor the Maori All Blacks, the Black Ferns, the women's sevens team and the Under 20 teams.
Mr Tew says AIG's support is vital to the NZRU's financial security.
"We have new and ambitious goals, including winning gold in Rio de Janeiro in 2016 with men's and women's sevens, so it's vital we have sponsors like AIG and adidas backing us over the long term," he says.
AIG's president and ceo Bob Benmosche says the sponsorship deal is a good move for his company.
"Rugby is popular around the globe and growing rapidly in the United States, and the top rugby nations align with regions where AIG is strongly represented and is targeting growth."
As part of the deal, AIG's logo will be added to the front of the All Blacks jersey, to be debuted when they play Australia in Brisbane on October 20.
This is the first time the All Blacks jersey will don a logo across its front.
"This is not a decision we have taken lightly," Mr Tew says.
"On balance it is a very positive opportunity to secure the additional funds that we need to help safeguard the future of the game in this country," Mr Tew says.
Rumours AIG would become an All Blacks sponsor have been doing the rounds since July when it was suggested by sports writer Jed Thian.
In the 2011 calendar year, the NZRU received $79.9 million from broadcasting rights, sponsorship and licensing fees, according to its annual report. The NZRU said new contracts saw broadcasting earnings rise 28 percent from 2010, outpacing the 11 percent growth across all commercial income.
The NZRU has been looking at ways to capitalise on the global appeal of the All Blacks brand as it seeks to breakeven this year.
It posted an operating loss of $3.1 million in the 2011 calendar year, smaller than the $3.6 million loss budgeted for and in line with the $3 million loss in 2010. When unrealised exchange rate gains of $13.4 million are included, the NZRU's operating loss turned to a net profit of $9.6 million.
Tew said AIG's sponsorship will help the rugby union build the global image of the brand as it looks to broaden rugby's appeal to other nations, such as the US.
With reporting by BusinessDesk.
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Comments and questions38
Gross.
Steve Tew must as bereft of ideas as AIG is. Plastering a busted insurance company's logo, poster-child of the 2008 losers hall of shame from Wall St., all over the finest rugby team in the worlds jersey is despicable.
Sack Steve Tew now.
How is AIG a busted insurance company? Not only have they paid back the 182 million with profits, but the US govt stands to make billions more off of the deal. The company is bringing in huge profits and provides employment to over 60,000 people worldwide.
I think you mean "billions" -- and no, they haven't paid that back.
They have actually paid it all back with billions in profit to the US taxpayer. You're entitled to your opinion but not to your own facts.
AIG Financial Products was the dog. The insurance arm was always profitable, they could have carved it off as a stand-alone business and left the people (Goldmans) to take their losses on their s**t. Instead they kept the company whole in order to disguise the bailout at 100 cents in the dollar to Goldman etc. Nice work if you can get it....gods work as Blankfein described it.
AIG was "busted" for fraud and fined over US$1billion in 2005.
Then paid a US Senator (bribery is legal in the U.S.) to amend legislation to allow over $1billion in performance bonus payments after they had been bailed out, and only a few days after they posted a final quarter loss of $60billion+. All a matter of public record considering the U.S. government ran the show for the past few years - and only managed to make a profit for the taxpayer by forcing AIG to sell off large chunks of its business.
Amazing how public sector efficiency can turn private sector corruption and inefficiency around ha ha.
I wouldn't exactly call that 'dominates'.
It's front and centre, and bigger than the silver fern. How's that for a definition?
It isn't as big as this, or have a box around it.
http://i.telegraph.co.uk/multimedia/archive/00978/aig_978471c.jpg
I would say it is normal sponsorship.
I see some of the other jersey designs do have the big ugly box around it.
Good luck to the AIG All Blacks on there Northern tour. I guess we'll go the way of the Wallabies who play for an airline instead of there country.
Sure it's a great short term deal, but Tew is devaluing the All Black brand long term.
Presume we're also going to see AIG plastered all over those migraine-inducing animated billboards that make a game ialmost mpossible to watch. Whoever developed them obviously has no feel for the game, and what it means to be a sports fan.
Wot no Moa sponsorship?
Its sicking that the NZRU has to stoop so low....
With US Govt backing we can be sure that AIG will be able to pay its bills to the ABs in the next downturn, Smart thinking Steve.
Right. AIG's Manchester United sponsorship collapsed during the GFC.
The 3,000 Feltex Claimants, led by Eric Houghton, would like to know why AIG / Chartis is spending a big chunk of the $50 million dollars that its owes them - on behalf of the Feltex directors - on trying to be seen to be nice guys.
Isn't Chartis/AIG's attitude to those responsibilities the opposite of what the All Blacks stand for - fair play and being the best in the business.
The Feltex house has surely burnt down. Pay up.
The non payout on Feltex and the use of the policy instead to fund a futile defence remains the subject of a COA decision, which is yet to be finalised, but where even Bell Gully partners argued this was wrong.
There is no doubt that premium increases since Houghton's claim was lodged in early 2008 should have more than covered a payout on this claim - while risky behaviour (think new claims) taken by those insured have been severely curtailed.
Come on AIG, if you really want to appear in an All Black shirt start behaving like one and honour the silver fern and the NZ investing public who paid your premium in 2004 and deserve the compensation they contracted for with your group.
[AIG subsidiary Chartris NZ rebranded as AIG on Oct 1 - Editor]
TV audiences are down (besides the World Cup) and match attendances are down.. Players want more money Tew has to find it somewhere. Cut the guy a break.
Are we more really more concerned about 3 letters on a jersey, or being able to pay the players enough to retain them and keep winning...
Think back to the pain of some of the world cup losses and the answer is palpable.
Thank you AIG for your support. Go the All Blacks!
"This is the first time the All Blacks jersey will don a logo across its front."?????
I think you'll find we used to have the Steinlager logo on the jersey (all be it for a short period).
I'd prefer it not there, but reality is its professional sport & its a big business deal. Barcelona football held out for a long while too but eventually did the same.
Steve Tew - the man who sold the All Blacks jersey - what a legacy. Will boycott anything to do with AIG and will never buy another AB jersey while it is defaced in this fashion. Very disappointing they have made the players say supportive things about this horror move - or are they just happy that their managers can negotiate more $ for them to run around a paddock?
The 180 billion dollar+ AIG bailout has been repaid in full with the US taxpayer receiving a multi billion dollar profit! Everyone said they could never do...but like the AB's they came good. Enough economic illiteracy and anti Americanism masquerading as serious comment please. This is a great day for New Zealand Rugby...or should we turn down Emirates money for our America's Cup Team as well???
I'm ok with it - its reality and its not too imposing. NZ rugby needs $$ to expand
I don't like it. I think Tew's bent over a bit too far.
But let's also keep it in perspective. It's still reasonably subtle - not like the Team Emirates debasement of the Americas Cup.
If there has to be a brand on the All Blacks chests, pity it's not an NZ brand getting the global exposure
Excellent commercial decision, well done NZRFU.
Why the Hell, AIG??? The same company that lent money on the sub-prime market,with reckless abandon; and contributed to Lehman Brothers' downfall. Why these honchos, who should be driven out of Dodge. Haven't felt so distraught, since my cat had an asthma attack.
That's a silly comment. AIG was the underwriter who insured the banks against losses they incurred when bank mortgages were defaulted on by US Ninja (no income no job applicants) loan holders. The Dem party forced the banks to lower their lending criteria to allow those loans...neo-con bushites did not help either as they didn't want the "why shouldn't the poor also own a home" accusation from the left when Clinton lost to them. Given the financial institutions were left with such drek risk they packaged them to turn a profit and NO ONE OBJECTED...the tax on the profits paid for all the diversity outreach coordinators, climate-change managers and equality officers! Then capitalism gets blamed when it was state interference that kicked it all off. Communitarians and corporatists were to blame...not capitalists and not AIG.
Get over it you boof heads.
If you look really really closely you will see there is also an Adidas logo on the front as well....same, same but different I guess.
Rugby is just another commercial sport where everyone is trying to maximise profits. If you think the 'precious' All Blacks is different I'm afraid you are very wrong. Get some perspective.
Why do NZRU keep botching their sponsorship operations? Look at the Adidas shambles with online jersey purchasing. Now, instead of a modest logo, AIG is the biggest, brightest thing on the front of the jersey. Why does each sponsor get the public offside instead of complementing the marketing effort? Clowns.
How many of those people who complain about the logo actually went to an ITM cup game to support their union? How many went down to their local rugby club and bought beer and entered the raffle to help pay the club’s bills? How many volunteered to help make rugby happen every weekend, rain or shine?
We have a choice in this day of professional rugby. Either the NZRU raises sponsorship on the jersey, so that it can afford to pay internationally competitive salaries to our best rugby players and keep them in NZ, or we lose our best players overseas and become a second rate rugby nation.
Maybe all you people crying like spoilt little girls should pay for the sponsership instead? Aig has been in nz for 40 years and has provided hundreds of jobs for kiwis
Great to get sponsorship for the teams.
But with this particular sponsor, the All Blacks brand has been dealt a serious blow. Shame on Tew. Learn some branding mate.
All well rounded individuals are a mix od academics and sporting pursuits...given academia has been in the hands of the critical-theory obsessed faculty lounge marxists of the left for the last 40 years...perhaps having the capitalists sponsoring sports acts as balance. Some of the commentators here would prefer it if our Team was the ALL BLACKS DYNAMO.
Why doesnt the media ask how much this sponsorship is worth and what the breakdown is? Is it $1 million or $1000 million? What is the strategy on spending? How are the NZRFU going to spent the money? US based promotions?
It would perhaps make it a little easier for those AB supporters to know just what the guts of the deal are.
Go the AIG's!?
Nice Rugby jersey. Go AB! Go AIG! Love love love!