Partner Article

Rock continues to back Magpies

Northern Rock today said it would continue to sponsor Newcastle United Football Club after signing another four-year deal worth up to £10 million.

The contract - valued at between £1.5 million and a potential £10 million - will see the bank remain the main sponsor of the Championship team following a relationship dating back to 2004.

Northern Rock said it believed the sponsorship contract fitted in with its responsibilities under Government ownership.

Gary Hoffman, chief executive of the bank, said: “We remain mindful of our responsibilities under Government ownership and only consider those advertising and promotion channels that deliver a high return on investment and good strategic fit.

“We believe that the sponsorship deal with Newcastle United provides both of these.”

Northern Rock - the “good” part of the bank that was separated from its more toxic loans at the start of the year - said it will only pay out the maximum £10 million if Newcastle is playing in the Premier League for the full four years.

The contract, which commences at the start of next season, is also subject to review after two years, added the bank.

Newcastle United is currently top of the Championship and is on course for promotion amid a recent turnaround in fortunes.

Northern Rock said its relationship with Newcastle United “represents an important community link”.

“Brand awareness and promotion are important elements in the continuing development of the company,” said Mr Hoffman. “The new contract will help keep the Northern Rock brand in the public eye and reinforce our strong roots in the North East region, a community we are immensely proud to support.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .