Newcastle United Calls An Early End To Sponsorship Deal With Virgin Money
EPL Newcastle United will have a new sponsor on its "famous black and white shirts next season" after it called an early end to its deal with U.K.-based bank Virgin Money, according to Keith Weir of REUTERS. The contract with Virgin Money, agreed to in January, was reportedly worth only £3M ($4.9M) per season, a "modest amount" by EPL standards. Newcastle United Managing Dir Derek Llambias said, "We will be announcing a new sponsorship partner shortly, which represents an excellent commercial deal for both parties." Newcastle, owned by Mike Ashley, who controls sporting goods retailer Sports Direct, "exercised an option to break with Virgin Money at the end of the current season" in May (REUTERS, 10/1).