Sorry soccer fans, but you may need to purchase an updated Manchester United jersey next year.

ESPN is reporting that American International Group has no plans to renew its shirt sponsorship – gracing the front of the red Man U jerseys – as it cuts costs amid a federal bailout just over $150 billion.

ESPN did not indicate if the AIG logo would be replaced with a logo for the U.S. Treasury Department, which is sponsoring the insurer’s bailout.

AIG is in the middle of a four year, $100 million deal with David Beckham’s former team due to expire in May 2010, but is looking to cut back on some of those commitments as well, says the report.

But sports fans can rejoice that they will still be able to be with AIG in spirit as watchers of the NFL championship games – you know, the “other” football -  last week were very generous with their name dropping for 21st Century Insurance….the new name for the now defunct aigdirect.com.

So, while some things change, some remain the same.  At least in the sports world.