It could be good news that Virgin Money is in talks with Newcastle United.
Richard Branson – Billionaire owner of Virgin
Richard Branson’s company took over Northern Rock last week, and it seems they are keen to keep the shirt sponsorship of Newcastle United.
Northern Rock ended its sponsorship deal with Newcastle just before being taken over by Virgin Money and our understanding it the deal runs out in May, although initially that was unclear.
It is thought that the Northern Rock, which was signed in January of 2010, while Newcastle were still a second division side was worth £10M over four years of the proposed deal, but they did say they would review the deal over the four years.
At the time of the signing there was criticism that the Government owned bank would do such a deal, because it essentially meant the taxpayers were paying for it – not good unless you were a Newcastle fan.
We were surprised just how low the amount was because other clubs like Liverpool were getting deals worth alot more and in April of this year Liverpool signed a new kit sponsorship deal with Boston based Warrior Sports and that was worth £25M a year.
That’s ten times what Newcastle were getting, albeit while a second division side.
Nigel Currie is an Executive at brandRapport, a sports agency, and he had this to say:
“Virgin Money could benefit enormously from taking on the Newcastle shirt sponsorship.”
“The passion and loyalty of the Newcastle fans is legendary and the fans could definitely see it as a very positive move and confirm Virgin Money’s commitment to the area”
“The Newcastle shirt is one of the most iconic, most recognized and highest-selling shirt in the Barclays Premier League.”
We told you Newcastle United were a very popular club worldwide.
But we wonder how much they will be willing to pay for the sponsorship – that’s the big question – and it will not hurt that Newcastle are joint third in the Premier League right now and getting some great publicity.
Virgin Money, not surprisingly, declined to comment, and so did Newcastle United, but we hope this deal goes through.
We also wonder if a certain Richard Branson wants to buy a famout football club?