Newcastle new sponsorship with Wonga has received lots of publicity, and most of it has been bad publicity, but there are some good things coming out of the deal.
One is that it’s the best sponsorship deal Newcastle have ever signed, and it’s said to be worth £8M a year for four years with money being included in that figure, for the naming rights to St. James’ Park.
We don’t think the naming rights will be too much of that overall £8M a year deal, maybe £2M a year?
Owner Mike Ashley changed the name of the company about a year ago, and now he has managed to get paid at least £2M a year to have it revert back to it’s original and real name – St. James’ Park.
So those are two good things about the deal, and in our poll with one vote per reader – so that the voting cannot be artificially skewed by people voting multiple times – a full 60% of Newcastle supporters approve of the deal.
There has been reports that Newcastle’s Muslim players – Ben Arfa, Demba Ba, Papiss Cisse and Cheick Tiote will not wear the logo on religious grounds – because Muslims are not allowed to charge interest on money – they are not meant to make money off money.
But our last two sponsors, Virgin Money and Northern Rock also loaned out money for profit, so there’s not too much difference in that respect between all three sponsors.
The fans don’t like the fact that Wonga are a pay-day loan company who charge extremely high and unfair interest rates to their clientele, who are usually the not well off and the poor, because that’s why they need pay-day loans in the first place.
That negative seems very real, but even with Newcastle being associated with a company that has hardly got a good name in the UK, more fans than not seem to approve of the deal.
Here’s the results of the poll, which is still open.