AIG: Footing the Bill for the World's Richest Team

And then came the fall of 2008. And the collapse of the company. And the $180 billion governmental bailout. On the notion that it's hard to justify supporting a massively profitable English team on U.S. taxpayer dollars, AIG attempted to pull out of the remainder of the United contract.

"It turned out that it would cost us more to get out of the contract," Ashooh says. "By finishing out the terms we can continue to make use of some of the perks, like special events and game tickets."

Thus, AIG's name stays on the club's shirts for the remainder of the 2009-2010 season. And while the insurer has yet to make the final payment to United, Ashooh said the company will live up to its commitment.

In 2010, Aon(AOC Quote) will replace AIG with a deal reportedly valued at about $130 million.

Meanwhile, of course, AIG continues to auction itself off in pieces. So far, the company has shed more than 17 subsidiaries, resulting in some $6 billion in revenue. It's not exactly $180 billion, but it's a start.

More articles in this series:

• AIG Deconstructed: Stowe Mountain
• AIG Deconstructed: Philamlife
• AIG Deconstructed: Why AIG Owns 900 Jets
• AIG Deconstructed: AIG Rules Iraq