VIRGIN Money last night unveiled a two-year sponsorship contract with Newcastle United which saw the club strip emblazoned with a new logo.
Alan Pardew’s men began their Premiership clash with Manchester United with the new emblem on their shirts after a lucrative contract was brokered.
And it looked like a lucky charm after a stunning 3-0 victory.
The Virgin Money deal saw an end to Northern Rock’s eight-year relationship with the club and ushered in a new era following Sir Richard Branson’s takeover of the troubled mortgage lender on January 1.
Financial details were not disclosed but the firm confirmed the first 10,000 supporters with 2011/12 season shirts who bring them to the club shop would receive a free Virgin Money update to their top.
It was also announced that the Virgin Money logo will appear on the shirts for the remainder of the season, as well as the 2012/13 and 2013/14 campaigns. It is believed the club are still actively looking for a ground sponsor after controversially putting the naming rights for St James’ Park up for grabs in November last year.
But last night football finance expert Vinay Bedi, of Brewin Dolphin, claimed the shirt deal weakened the club’s position as they sought to attract investors.
He said: “It gives fuel to the fire for those that argued Mike Ashley had no intention of finding a new sponsor for the stadium.”
Northern Rock penned a new £10m agreement in January 2010 which was due to last four years. But they pulled the plug on the deal after Mr Ashley put sponsorship rights for St James’ Park up for sale in November.