Adidas Denies Newcastle Naming Rights Rumour
Adidas has released a statement saying that it is not interested in buying the naming rights for St James’ Park, the home of Coca-Cola Championship club Newcastle United, after media speculation linked the global sportswear brand to a deal.
In taking the troubled club off the market last month, Newcastle United’s owner Mike Ashley had announced controversial plans to rename the ground by putting the naming rights up for sale.
Adidas, already Newcastle’s kit supplier, had been linked to the deal but released a statement today contradicting such claims.
The statement read: ‘Following media speculation regarding Newcastle United and the naming rights for St James’ Park, Adidas can confirm that it has not been offered the naming rights to the stadium and would not wish to take the rights if they were offered. Adidas remains committed to our on-pitch partnership with the club.’
After close to 12 months of negotiations without finding a buyer, Ashley has decided to retain his ownership of Newcastle and will invest a further £20m into the club.
In a statement disclosing his plans moving forward, Ashley put a large emphasis on the potential commercial revenue deriving from selling the naming rights to the St James’ Park stadium.
He also added that the club was seeking a new shirt sponsor to replace Northern Rock while Adidas’ kit sponsorship agreement would also be reviewed when both deals expire at the end of the current season.
