Newcastle United signs four-year deal with Wonga, with stadium to be renamed St James' Park
It has been announced that Newcastle United has signed a four year sponsorship deal with Wonga, which will see the loan company invest £1.5million in the club's Academy and in the Newcastle United Foundation Enterprise Scheme.
The deal, which will last for four years and is rumoured to be worth £24million, will also see the stadium return to its St James' Park name, following the previous change to Sports Direct Arena by owner Mike Ashley in a bid to showcase the potential for a ground sponsor.
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.”