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AirAsia Bhd., Southeast Asia’s largest low-cost airline, held talks about sponsoring English soccer champion Manchester United’s jerseys, a deal that currently costs 19 million pounds ($28 million) annually.

Tony Fernandes, AirAsia’s chief executive officer, said yesterday on his blog he was in London and “about to meet” club officials. He wrote on Feb. 18 that Manchester United had approached him about a possible sponsorship agreement.

The 17-time English champion said last month it was asking several “worldwide companies” about putting their names on United’s red shirts. The club said at the time it expected to improve on its agreement with American International Group Inc., even as companies rein in spending amid the global recession.

“To be honest, I don’t know what the entire package would amount to, as prices would have come down,” Fernandes wrote. “The question is whether we need to anymore. That’s what I’ll be examining.”

Fernandes didn’t immediately return a text message seeking comment on the meeting.

AIG said last month it won’t renew its four-year United sponsorship that runs until the end of the 2009-10 season.

AirAsia, which Fernandes bought for 1 ringgit (27 U.S. cents) in 2001 and turned into a budget carrier, is already the official low fare airline for Manchester United.

United has millions of followers across Asia and the club will visit the continent for the fifth time in a decade this year when it plays a series of exhibition games in China, South Korea, Malaysia and Indonesia.

(Source: Bloomberg)