New Sponsor Renames Stadium St.James’ Park!
Now though the Chronicle are reporting that at the press conference this afternoon to launch the deal, Wonga have actually bought the stadium naming rights but have chosen to call it St.James’ Park!
You really couldn’t make this up and it is clearly an astute move to counter the negative publicity that the nature of their business has attracted, when a possible sponsorship of Newcastle United was mooted at the weekend.
The following was released by Newcastle United earlier:
Newcastle United has agreed a new four-year deal with wonga.com which will make the digital finance company the Club’s lead commercial sponsor. In addition to sponsoring the team shirt from the start of the 2013/14 season and working on a range of other initiatives with fans, Wonga will invest at least £1.5m in two of the Club’s most important projects.
Wonga is investing in Newcastle United’s young talent by providing significant financial support for the Academy. The investment will enable the Club to transform its Academy into one of the leading centres of youth football development in the country, enabling us to nurture the top playing stars of the future. The Academy has around 150 boys between the ages of nine to 18 on its books. In addition to standard evening and weekend training sessions, the Academy has 35 boys attending on weekday afternoons from Monday to Thursday for classroom learning as well as training.
Wonga has also committed to invest in the Newcastle United Foundation Enterprise Scheme (*). The existing programme helps 15-16 year-olds find employment by developing their skills and experience through practical and educational courses. Wonga’s investment will vastly expand the scheme and help more young people in the North East in their future careers.
Other initiatives with Wonga will include a straight talking forum with the fans for discussing ideas for fan involvement in the Club and working on a specific new initiative to involve fans in the design of the shirt.
Wonga provides small, short-term loans online and via smartphones. To date the company has provided over six million loans, while generating industry-leading satisfaction rates from customers.
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