The new agreement comes on the back of a long-running relationship between the Barclays Premier League club and Northern Rock, which Virgin Money officially acquired on January 1. The Virgin Money logo will be used on team shirts for the remainder of the 2011-12 season, with the new look receiving its debut as Newcastle beat Manchester United 3-0 on Wednesday.
The agreement appears to mark an end to Newcastle’s original plans to market a combined shirt and stadium sponsorship deal. Newcastle managing director Derek Llambias in November stated the club was targeting a deal worth up to £10 million a year by taking this approach. Newcastle’s St James’ Park home has been controversially renamed the Sports Direct Arena while the club seeks a permanent naming rights partner for the famous stadium.
Financial details behind the Virgin Money partnership were not revealed, but Llambias stated: “We're delighted to secure this new deal with Virgin Money and we look forward to enjoying a mutually beneficial partnership over the coming seasons. It is an excellent deal for both parties and we're very happy to have them on board.”
Jayne-Anne Gadhia, chief executive of Virgin Money, added: “Now that Virgin Money and Northern Rock are united as one business, it gives us great pleasure to continue the shirt sponsorship of Newcastle United Football Club. The Northern Rock sponsorship started in 2003 and it is an important link to the North-East which we are pleased to continue. Combined with our sponsorship of the Virgin London Marathon and the Edinburgh Festival 'Fringe on the high street', the shirt sponsorship of Newcastle United Football Club embeds our involvement in the communities we serve.”
