Giant Indian corporation Sahara have been approached about becoming Manchester United's next shirt sponsor.

American bankers AIG announced on Tuesday that they would not be renewing their £14million-a-year deal with United, a contract which was set to expire in the summer of 2010.

Reports in the English media also suggested that AIG are in talks with United regarding the deal for this season.

The move comes as no surprise as AIG required a massive bail-out from the US Federal Reserve last year just to keep trading.

It leaves the Red Devils trawling the planet looking for alternatives at a time of financial prudency.

Chief executive David Gill has previously indicated United were looking towards India for expansion, although a first visit to play a match has not been incorporated within this summer's Asia tour.

However Sahara executives are expected to consider United's initial approach, having enjoyed a fruitful sponsorship deal with the India cricket and hockey teams in recent years.

Other companies have been approached as well, with many experts predicting Saudi Telecom, already one of United's commercial partners, may be interested in strengthening their ties.

There have also been close dealings with Malaysia - where United will play in July - in recent years, so executives are bound to look at Kuala Lumpur as well.