Newcastle Line Up Virgin Money Replacement?

Newcastle United is set to sign a multi-million pound shirt sponsorship deal with payday lender Wonga, according to multiple media reports, while there is growing speculation that the partnership could also include stadium naming rights.

The Barclays Premier League club announced last week that it was ending its agreement with current shirt sponsor Virgin Money a year early. 

The Sunday Telegraph reports that the club will finalise an agreement worth £8m a year within the next fortnight, with the deal running from the start of the 2013/14 season, for three years.

The partnership could see St James’ Park, currently rebranded as the Sports Direct Arena, renamed the Wonga Stadium.

The move has already been met with scrutiny from some areas, with Wonga offering short-term loans at very high interest rates.