Virgin Money – Newcastle’s New Sponsor?

There was news on Friday that a consortium headed by billionaire Richard Branson’s Virgin Group Ltd. has offered to rescue Northern Rock PLC. The proposal is to inject cash into the struggling mortgage lender and rebrand it Virgin Money.

While this is only the first proposal put forward to rescue Northern Rock, if it goes through it could mean that Virgin Money is Newcastle United’s new corporate sponsor.


Virgin Group have submitted a proposal to rescue Northern Rock and rename it Virgin Money

Under the proposal, put forward by a consortium of Asian and U.S. investors led by Virgin, Northern Rock would be renamed Virgin Money in return for equity. Virgin’s offer is the first on the table for Northern Rock, following speculation about several potential bids from private-equity firms Apollo Management, Blackstone Group, Lone Star, J.C. Flowers & Co. and Cerberus Capital Management.

The only way out of the trouble Northern Rock got itself into was a buyout and the Newcastle based mortgage lender has been searching for a buyer since last month. In early September it issued a profit warning and announced it had requested emergency funding from the Bank of England, following the collapse of the sub prime mortgage market. Customers immediately panicked and put a run on the bank as they lined up to withdraw their deposits in early September.

If this deal goes through it looks like Virgin Money would pick up the sponsorship of Newcastle United. We think that would be a good deal for the Newcastle club since Virgin is a global brand and would seem to support Mike Ashley’s policy of making Newcastle United a successful global brand.

Wonder what the crest for Virgin Money will look like – should really make it blue so it matches in with Newcastle’s colors – let’s get Branston on the phone 😀

Comments welcome.

19 comments so far

  • Chris

    Oct 13, 2007 at 11:00 PM

    Comment #1

    I dunno. I love my Newcastle shirts, but walking around town with “Virgin” written on my shirt…kinda strange

  • Andy C

    Oct 13, 2007 at 11:05 PM

    Comment #2

    Emirates are gunna be our next sponsor, you heard it here first.

  • George

    Oct 13, 2007 at 11:07 PM

    Comment #3

    Hope Virgin goes the way of many of Bransons quests. Down.
    How many Virgins can you imagine walking the streets of the toon at a weekend, we would be a laughing stock.
    I pray to God this does not happen

  • Cockney Magpie

    Oct 14, 2007 at 12:30 AM

    Comment #4

    Neway whats been going on i was at a famil party earlier and i over heard my auntie saying did u hear tht richard branson has been lying to try n take over half of that northern rock! , hows has he been lying?

  • Cockney Magpie

    Oct 14, 2007 at 12:32 AM

    Comment #5

    and ed its Branson, Branston is the pickle!

  • Cockney Magpie

    Oct 14, 2007 at 12:34 AM

    Comment #6

    plus i dont think too many people would be laughing if we did have Virgin on the front of our shirts, it aint like people dont know about the company Virgin and the jokes about are a bit out of date know dont ya think! they might have worked about 5 years ago but not now lol

  • Bill F

    Oct 14, 2007 at 1:07 AM

    Comment #7

    Perhaps we can all be born again virgins.

  • Bill F

    Oct 14, 2007 at 1:07 AM

    Comment #8

    Cockney magpie did you get my earlier comment.

  • Bill F

    Oct 14, 2007 at 1:15 AM

    Comment #9

    I’m posting all these late blogs and I suspect everyone is tucked up in bed, it’s a real bu**ger being the only insomniac on line.

  • Dingo

    Oct 14, 2007 at 1:23 AM

    Comment #10

    the only one? not on your nelly

  • Cockney Magpie

    Oct 14, 2007 at 2:15 AM

    Comment #11

    im still here aswel, which coment bill? about the young team we av? yer i did mate

  • Cockney Magpie

    Oct 14, 2007 at 2:26 AM

    Comment #12

    im jus watchin ESPN classic n the game is nufc v sheff wed 93/94 and the info on the programme reads : NEWCASTLE TOOK THE PREMIERSHIP BY STORM WITH THEIR BRAND OF FREE-FLOWING ATTACKING FOOTBALL AND ANDY COLES GOALS MAKING THEM THE TEAM TO WATCH – that makes me so 🙁 i wish that was still the case! although i believe them days can be just around the corner again and if anybody can bring them back BS can, people say he only plays defensive/boring football but i think that was bcoz thats what worked best for Bolton, Im sure he knows that is not always going to be the case at nufc and with players like Owen, Martins, Duff, Barton, Milner, N’Zog the free flowing attacking football days will return! BELIEVE!!!!! 😀

  • Tripp

    Oct 14, 2007 at 6:12 AM

    Comment #13

    Christ, you lot over in England are having mortgage issues too? WTF? I thought it was just us. For the Stateside Toon fans the Virgin thing would be a bit embarassing. No one here recognizes the Black ‘n White and SRB’s companies aren’t exactly household names (We all know Virgin Airways and Virgin Recods, but the recall isn’t is fast for most folks I don’t think). At least Northern Rock sound good. Christ, they’ll think we’re all Madonna fans. Any name but that!

  • Ed Harrison

    Oct 14, 2007 at 10:04 AM

    Comment #14

    Tripp – Virgin is faitly well known over here as is Richard Branston – don’t forget he just started his Virgin airline here.

  • leo

    Oct 14, 2007 at 2:24 PM

    Comment #15

    branson pickles is the next sponsor, you heard it hear first.

  • sas

    Oct 14, 2007 at 4:04 PM

    Comment #16

    Bring back Newcastle Brown Ale, the shirts have never been the same since

  • t-g-w

    Oct 14, 2007 at 8:11 PM

    Comment #17

    Haven’t we already struck a new sponsorship deal with some beer company? Think it might be Carling – not very impressed cos it tastes like s**t. I swear I saw that on the official website a few months back. Or maybe its Carlsberg, but don’t they sponsor Liverpool?

  • Bill F

    Oct 14, 2007 at 8:23 PM

    Comment #18

    t-g-w, don’t all lagers taste like sh*t 🙂

  • t-g-w

    Oct 14, 2007 at 10:05 PM

    Comment #19

    True but they’re dirt cheap for students like me 🙂 but carling tastes particularly bad!


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