American International Group has agreed to pay a record ?56.5million ($98.9 million) for a sponsorship deal that puts its nameon the shirts of Manchester United, the famed British soccer team,it was announced today.

The four-year arrangement, which an AIG spokesman said is partof a global marketing strategy, was announced at Old Trafford, theteam's soccer stadium in Manchester, England.

"AIG's global operations complement our great fan base and weare excited about the global prospects this relationship brings.This is a blue-chip deal for a blue-chip club," said David Gill,MU's chief executive, in a news release from his organization.

Martin J. Sullivan, AIG president and chief executive officer,said in a statement that the insurer believes "this relationshipwill mutually benefit both organizations, and we look forward tomaximizing the value of this high-profile sponsorship to help growAIG's businesses around the world."

The AIG brand will be positioned on the front of the team's redshirts when the next season begins--replacing the current sponsor,Vodaphone. Manchester United is owned by a U.S. citizen, MalcolmGlazer, who took over the team last June. He is also owner of theTampa Bay Buccaneers football team.

New York-based AIG, which does business in 130 countries,currently has 29 percent of its revenue from foreign life andretirement services and 10 percent from foreign generalinsurance.

An AIG representative, Christian Murray, noted that theManchester United Club is watched throughout the world viasatellite TV--including Asia, where AIG is continuing its majorexpansion.

He said the company's other sports connected marketing involvessponsorship of Davis Cup tennis, and the Houston Rockets as well assignage in New York athletic venues such as Yankee Stadium, MadisonSquare Garden and Shea Stadium.