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SBD Global/October 9, 2012/Marketing and Sponsorship
Wonga In Shirt Sponsorship Talks With Newcastle United
Published October 9, 2012
UNDER FIRE: MARKETING MAGAZINE's John Reynolds reported that Wonga "has been hit by criticism for the high interest it charges on its loans," which are "much higher than most other lenders." However, Wonga said that "the majority of its customers pay their loans back in less than a month." Wonga has also been criticised by the Office of Fair Trading "over the way it carries out debt collection, a criticism rejected by Wonga" (MARKETINGMAGAZINE.co.uk, 10/8). MARKETING WEEK's Sebastian Joseph reported that Newcastle City Council Labour Leader Nick Forbes "criticised the potential deal" on Twitter. Forbes wrote, “Wonga about to sponsor #NUFC? Disgraceful if true, will undermine all the work we are doing to crack down on legal loan sharking” (MARKETINGWEEK.co.uk, 10/8).