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http://tyneandwear.sky.com/newcastleunited/article/42572

 

Newcastle United have confirmed payday loans company Wonga will be the club's shirt sponsor from next season.

 

As well becoming the club's main commercial sponsor, Wonga will invest at least £1.5m in the club's Academy and the Newcastle United Foundation Enterprise Scheme, which sees 15-16 year olds given employment opportunities through training courses.

 

Derek Llambias, Managing Director of Newcastle United, said: "We are building a club that can regularly compete for top honours at the highest level.

 

"As everyone knows, a strong commercial programme is vital to this goal and I am delighted to welcome Wonga into the fold as our lead commercial partner, alongside Puma and Sports Direct.

 

"Throughout our discussions Wonga's desire to help us invest in our young playing talent, the local community and new fan initiatives really impressed us and stood them apart from other candidates."

 

Other initiatives with Wonga will include a forum with the fans for discussing ideas for fan involvement, and working on a specific new initiative to involve fans in the design of the shirt.

 

Errol Damelin, founder and CEO of Wonga said: "We're really proud to be involved with Newcastle United.

 

"It is one of the biggest and most important clubs in the UK by any measure and has a fantastic following around the world. We're also really excited about investing in future stars both on and off the field.

"The Academy and the Enterprise Scheme gives us the opportunity to make a big difference."

 

The move to make Wonga the club's shirt sponsor has been met with criticism from local MPs and councillors.

 

Leader of Newcastle City Council Nick Forbes sent a letter to Newcastle owner Mike Ashley on Monday, warning of the "social consequences of the deal", and claiming the deal would be the "wrong image for Newcastle, NUFC, and football as a sport".

 

Wonga offers short-term loans at a rate of 4,214 percent APR. That compares to rates on certain credit cards such as Barclaycard Platinum of 7.9 percent.

 

St James' Park was renamed the Sports Direct Arena in November 2011, in a temporary deal with club owner Mike Ashley's sportswear empire.

 

Wonga were rumoured to be in talks over stadium naming rights as well as shirt sponsorship, but a stadium rights holder is yet to be found.

 

I still would like to know what Sports Direct are putting into the club.

 

Indeed. Especially now they're being billed as an 'Official Partner'. Even if he just comes out says, 'It's for all that money I've put in, guv'na'.

 

Precisely. As I don't go on and read the club accounts etc was there anything at all in the last set about it? As they're obviously gaining a lot of advertising and are on our training stuff that the players wear. I'm just yet to see any financial benefit for the club through this.

 

Perk of the role. Does Whelan pay anything to call the DW the DW? No. How about Venkys?

 

Just can't see why people get hung up on the figures. If another brand offered enough to make on balance more sense financially for him to swap, why wouldn't he do it?

 

I think we'd all agree that he would. no?

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Guest firetotheworks

I'm more looking forward to the player adverts - Steve Harper - Our interest rates fall slower than he does.

 

:lol:

 

Danny Simpson - Halfway through our pitch, you'll lose interest, too!

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I'm more looking forward to the player adverts - Steve Harper - Our interest rates fall slower than he does.

 

:lol:

 

Danny Simpson - Halfway through our pitch, you'll lose interest, too!

 

Yohan Cabaye says buy your dreamboat with a loan from Wonga.com

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