Some comically bad news for Newcastle United fans on the eve of the club's Premier League match against Manchester United at home, as according to
the Daily Telegraph, the club are poised to sign a sponsorship deal with money lending firm Wonga that will cover both the shirt and stadium, which will reportedly be renamed. Current shirt sponsors Virgin Money will not be associated with the club beyond the end of the season, and the Telegraph confirm that the owner Mike Ashley has been looking to sign a joint shirt and stadium sponsor for next year and beyond. The deal, which would see Newcastle net £8m a year, running from the start of the 2013 season for an initial three years. The news is likely to be met with a fierce backlash from Newcastle fans, who have so far rejected the official name of the stadium - The Sports Direct Arena - and will now surely be upset by the negative associations of the Wonga brand, which has faced criticism for its high interest rates and perceived dangerous practices. For others, the stadium always has been, and always will be St James Park, regardless of who the club sell any naming rights to, or for how much - but it's not hard to predict a drop in shirt sales next year with the company's blue logo emblazoned on the front of them. Wonga have previously sponsored Hearts in the SPL, and are currently shirt sponsor for Championship side Blackpool. Whether the story is true or not will no doubt come to light in the very near future, but the fact that the deal would represent a £3m a year rise on the current Virgin Money deal - which was reportedly worth £10m for two years - and the timing of the story seems appropriate given the end of the Virgin deal. Of that deal Jayne-Anne Gadhia, chief executive of Virgin Money had said earlier in the week:
"We were delighted to sponsor Newcastle United given the club's importance to the North East and had hoped that this would be a relationship that would flourish for years to come. However, they have found a different option and we have to respect that. We remain sponsor until the end of the current season and the Virgin Money name will continue to be worn on the iconic black and white shirts until then."
And it would fit in with managing director Derek Llambias's assertion that the club would be announcing a new sponsorship partner soon "which represents an excellent commercial deal for both parties." £8m a season might seem like a lot of money, but with the negative publicity the news is bound to create, and the negative fan reaction in an important season for the club, you have to question the decision behind it. But then, there isn't much that talks louder than money in the footballing corridors of Tyneside these days. Click "next" below to read -
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