Northern Rock Ends Magpies Deal Early
Northern Rock has ended its sponsorship deal with Newcastle United, with over three years still remaining in its contract – according to media reports.
The BBC reported that the £10m four year deal was renewed in January, but included a clause allowing the bank to leave the contract after two years – which has now been taken up.
The decision was allegedly made for financial reasons.
The Newcastle-based state-run bank said that the end of the sponsorship was nothing to do with the recent name change of St James’ Park, but followed a change in the way it spends money on marketing.
Last week, St James’ Park, was renamed the Sports Direct Arena – after club owner Mike Ashley’s company, on a temporary measure in a bid to showcase the sponsorship opportunities of the stadium to interested parties.
The Magpies, who currently sit third in the Barclays Premier League, are searching for a long-term sponsor to acquire the full naming rights for potentially both the ground and playing kit.The iconic St James’ Park title has been dropped, reportedly because the club did not deem the name to be commercially attractive.
In the last few years, state-run Northern Rock has ended its sponsorship deals with Durham County Cricket Club, basketball outfit Newcastle Eagles and rugby union side Newcastle Falcons.
