BlueStar Posted October 7, 2012 Share Posted October 7, 2012 Borrowing £100 at Wonga’s APR costs more than the US national debt (over $14 trillion) after 7 years http://blog.moneysavingexpert.com/2011/09/21/fact-borrowing-100-at-wongas-apr-costs-more-than-the-us-national-debt-over-14-trillion-after-7-years/ Link to post Share on other sites More sharing options...
JH Posted October 7, 2012 Share Posted October 7, 2012 Was hoping for a "And then we'll be live at Wonga, the home of Newcastle United" on SS1 Link to post Share on other sites More sharing options...
BlueStar Posted October 7, 2012 Share Posted October 7, 2012 Simon Bird @simonbirdmirror Was told by llambias 2 weeks ago that shirt deal is stand alone. Still seeking stadium deal. If it is Wonga, only on shirts George Caulkin @CaulkinTheTimes Said a few days ago that I was told stadium renaming NOT part of new #Nufc sponsorship package. That remains my understanding. George Caulkin @CaulkinTheTimes In other words, while Wonga might be new shirt sponsors - no official confirmation on that yet - they won't be sponsoring the #Nufc ground. Luke Edwards @LukeEdwardsTele For those asking abt #nufc Wonga story, it's from business desk. From little I know, think it's just for shirt sponsors though not stadium Pleasepleaseplease. Would still be furious about the shirts like. Saying that, this actually looks quite nice http://en.wikipedia.org/wiki/Wonga_Park,_Victoria Link to post Share on other sites More sharing options...
Ishmael Posted October 7, 2012 Share Posted October 7, 2012 Classy potential sponsor. Link to post Share on other sites More sharing options...
littlelunchbox Posted October 7, 2012 Share Posted October 7, 2012 TK Maxx would look classier on our shirts to be fair. Link to post Share on other sites More sharing options...
Parky Posted October 7, 2012 Share Posted October 7, 2012 This is brand association armageddon. Link to post Share on other sites More sharing options...
jdckelly Posted October 7, 2012 Share Posted October 7, 2012 Mark Douglas @MsiDouglas Wonga not in the frame for stadium sponsorship at #nufc. Get the impression the club are looking for a global brand. Link to post Share on other sites More sharing options...
Ameritoon Posted October 7, 2012 Share Posted October 7, 2012 Let's hope so. Link to post Share on other sites More sharing options...
hakka Posted October 7, 2012 Share Posted October 7, 2012 Wonga are a hideous company, like all Pay Day Loan business. Let alone the horrible states some people end up in on short length high interest loans, the amount of fraud going on via companies like Wonga is huge also. Link to post Share on other sites More sharing options...
Guest Brazilianbob Posted October 7, 2012 Share Posted October 7, 2012 No self respecting nufc fan is going to buy a shirt that has Wonga emblazoned on it are they? Link to post Share on other sites More sharing options...
Stifler Posted October 7, 2012 Share Posted October 7, 2012 No self respecting nufc fan is going to buy a shirt that has Wonga emblazoned on it are they? You would think not but yes they will. I won't, but I know 99% of people probably wouldn't even think about not buying it. Link to post Share on other sites More sharing options...
Guest Rob 1988 Posted October 7, 2012 Share Posted October 7, 2012 Sky Sources: Wonga Not Negotiating For St James' Park Naming Rights http://tyneandwear.sky.com/news/article/42377 Sky Tyne and Wear understands payday lender Wonga has not held formal talks with Newcastle United over naming rights for St James' Park. Insider reports published on Sunday October 7 suggested that Wonga was about to become the club's new shirt sponsor, with some also claiming the company could take over sponsorship of the stadium from Sports Direct. The Sunday Telegraph and the Independent both said they understood the consumer finance company was in discussions over a three-year deal starting in 2013. The Telegraph suggested that a combined stadium and shirt deal was on the table potentially worth £8m a year and claimed it could be finalised within a fortnight. The Independent reported only the kit deal. It comes as Virgin Money announces its shirt sponsorship deal at Newcastle will be brought to an end a year earlier than originally agreed. Wonga offers short-term loans online at a rate of 4214 percent APR. That compares to rates on certain credit cards such as Barclaycard Platinum of 7.9 percent. Newcastle City Council leader Nick Forbes made his view clear on Twitter. He wrote: "Wonga about to sponsor NUFC? Disgraceful if true, will undermine all the work we are doing to crack down on legal loan sharking" And Newcastle Central MP Chi Onwurah tweeted: "Please tell me its not true that nufc are looking at a shirt & stadium deal with Wonga?" Wonga currently sponsors Championship side Blackpool and Heart of Midlothian in the Scottish Premier League but both those deals are scheduled to finish at the end of the current season. St James' Park was renamed the Sports Direct Arena in November 2011 in a temporary deal with club owner Mike Ashley's sportswear empire while a more permanent sponsor is sought hope this is true Link to post Share on other sites More sharing options...
Mick Posted October 7, 2012 Share Posted October 7, 2012 Sky Sources: Wonga Not Negotiating For St James' Park Naming Rights http://tyneandwear.sky.com/news/article/42377 Sky Tyne and Wear understands payday lender Wonga has not held formal talks with Newcastle United over naming rights for St James' Park. Insider reports published on Sunday October 7 suggested that Wonga was about to become the club's new shirt sponsor, with some also claiming the company could take over sponsorship of the stadium from Sports Direct. The Sunday Telegraph and the Independent both said they understood the consumer finance company was in discussions over a three-year deal starting in 2013. The Telegraph suggested that a combined stadium and shirt deal was on the table potentially worth £8m a year and claimed it could be finalised within a fortnight. The Independent reported only the kit deal. It comes as Virgin Money announces its shirt sponsorship deal at Newcastle will be brought to an end a year earlier than originally agreed. Wonga offers short-term loans online at a rate of 4214 percent APR. That compares to rates on certain credit cards such as Barclaycard Platinum of 7.9 percent. Newcastle City Council leader Nick Forbes made his view clear on Twitter. He wrote: "Wonga about to sponsor NUFC? Disgraceful if true, will undermine all the work we are doing to crack down on legal loan sharking" And Newcastle Central MP Chi Onwurah tweeted: "Please tell me its not true that nufc are looking at a shirt & stadium deal with Wonga?" Wonga currently sponsors Championship side Blackpool and Heart of Midlothian in the Scottish Premier League but both those deals are scheduled to finish at the end of the current season. St James' Park was renamed the Sports Direct Arena in November 2011 in a temporary deal with club owner Mike Ashley's sportswear empire while a more permanent sponsor is sought hope this is true Link to post Share on other sites More sharing options...
Willow Posted October 8, 2012 Share Posted October 8, 2012 I bet it'll end up being LA Gear Link to post Share on other sites More sharing options...
JH Posted October 8, 2012 Share Posted October 8, 2012 http://d3j5vwomefv46c.cloudfront.net/photos/large/669146872.jpg?key=640831&Expires=1349734997&Key-Pair-Id=APKAIYVGSUJFNRFZBBTA&Signature=dNgsZze4y9ljO1tMXZecxIHbtwG6Mnc15V8R8yZBDBtDSdzgliLBYskWoLAOPCpdg1UB-GtFYyRkj4kNjnkRzLvEQFv9YmDZV9tyu4vGI19FgeUZN54n1XdZrECEAUJOqvRUkZxCm4hgs8UHi~q6-1XXFOk~r~3cCCYU7x3NF08_ Link to post Share on other sites More sharing options...
Disco Posted October 8, 2012 Share Posted October 8, 2012 Not sure which of those 3 stories is worse. Link to post Share on other sites More sharing options...
JH Posted October 8, 2012 Share Posted October 8, 2012 Loan danger: Fury as Newcastle prepare to sign "financial predators" as sponsors by Which one of you is Simon Bird? Newcastle are facing a fans' revolt as they prepare to announce a multi-million deal with payday loan company Wonga. Mike Ashley has agreed a deal of around £5million for Wonga to be the Toon’s shirt sponsors. The controversial company, already sponsors of Championship club Blackpool and top Scottish side Hearts, offer short-term loans at an APR of 4,214 per cent. Newcastle supporter Michael Martin, editor of the True Faith fanzine, warned he was “close to breaking point”. He said: “The people who run Newcastle, for the fans, have a social responsibility. “I would love them to honestly answer one question: Would you, Mike Ashley, seriously recommend borrowing money from Wonga at those interest rates? If you can’t answer yes then they shouldn’t be our shirt sponsors. “Newcastle is being used to normalise their product. It cheapens and tarnishes the Newcastle United brand. I wouldn’t want my logo next to them, so what do other sponsors think? “This is close to breaking point for me, the one that breaks the camel’s back.” Local MP Ian Lavery has pledged to send his season tickets back if, as expected, the sponsorship deal goes through imminently. Lavery branded Wonga “financial predators who make their money from people suffering from unemployment, low wages and in the greatest financial need.” Newcastle are the latest major company to come under fire for considering a deal with Wonga who offer short term loans at an APR of 4,214 per cent. Wonga is a booming business handing out nearly 2.5m loans last year, and 6m since its launch in 2007. In August, the firm struck a £1m deal with ITV to sponsor Geordie entertainers Ant and Dec’s prime time Red or Black? show. Newcastle cancelled their shirt sponsorship deal with Virgin Media last week, and believe the extra cash they will raise from the new deal will underpin their search for “long term stability” in their finances. The club trails well behind rivals, including Spurs and Liverpool, in attracting commercial revenues, something this deal as well as seeking a sponsor to rename the stadium, is aimed at addressing. Newcastle will tackle the criticism later this week by outlining how the extra cash from the potential deal will be used to benefit the future of the club. But the deal with Wonga, the highest profile of 200 payday loans firms investigated by the Office of Fair Trading, has caused a storm of protest. Lavery, Labour MP for Wansbeck, has vowed to return his two platinum club tickets and break off all ties with the club. Lavery, chairman of Ashington FC in Northumberland, said: “Newcastle United will be sponsored by the money of deprived people up and down the country. “If Wonga get this sponsorship through I will not set foot in St James’ Park until it is off the shirts. To have those players running around on that turf endorsing Wonga is an absolute outrage. “I have more and more people coming to see me and saying that as a result of job losses or benefit cuts they are being forced into these terrible but legal money lenders whose interest rates only then trap them into further debt.” Newcastle City Council leader Nick Forbes has written to Ashley, expressing that he believes the deal is wrong. He said: “I am appalled NUFC are in talks with a legal loan shark company. This is another example of the club’s profit at any price culture, which is destroying the image of the club and the city.” Toon supporter Gordon Ruffell, 54, said: “Wonga taking on a three-year deal makes me very angry.” Fan Paddy Donoghue added: “I suspect the club know the feelings against this and don’t care.” Wonga founder and chief executive Errol Damelin has denied they are a “legalised loan shark”. http://www.mirror.co.uk/sport/football/news/newcastles-wonga-shirt-sponsors-spark-1367970 Link to post Share on other sites More sharing options...
Parky Posted October 8, 2012 Share Posted October 8, 2012 Put a donk on it. Link to post Share on other sites More sharing options...
Guest BooBoo Posted October 8, 2012 Share Posted October 8, 2012 It's distasteful but in the long list of Ashley fuck ups, it's barely in the top ten. Talk of handing back season tickets is just melodramatic attention seeking. Link to post Share on other sites More sharing options...
Mole_Toonfan Posted October 8, 2012 Share Posted October 8, 2012 5m is really going to help when even Sunderland have a 20m deal (supposedly) isn't it Link to post Share on other sites More sharing options...
Cajun Posted October 8, 2012 Share Posted October 8, 2012 Not sure which of those 3 stories is worse. Swings and roundabouts, £6.59 for a 400mm toolbox saw Link to post Share on other sites More sharing options...
Guest BooBoo Posted October 8, 2012 Share Posted October 8, 2012 Not sure which of those 3 stories is worse. Swings and roundabouts, £6.59 for a 400mm toolbox saw Lolza. Link to post Share on other sites More sharing options...
Ketsbaia Posted October 8, 2012 Share Posted October 8, 2012 Haven't the local journalists pretty much said it won't be Wonga? Link to post Share on other sites More sharing options...
Interpolic Posted October 8, 2012 Share Posted October 8, 2012 It's distasteful but in the long list of Ashley fuck ups, it's barely in the top ten. Talk of handing back season tickets is just melodramatic attention seeking. You say that about everything, it's boring. I can see why people would have legitimate concerns about this. Link to post Share on other sites More sharing options...
Mick Posted October 8, 2012 Share Posted October 8, 2012 Haven't the local journalists pretty much said it won't be Wonga? Not the shirt sponsorship. Link to post Share on other sites More sharing options...
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