Newcastle United terminate Virgin Money sponsorship
Newcastle United surprised many Premier League fans when they finished 5th in the 2011/12 Barclays Premier League table, winning 19, drawing 8 and losing 11 of their matches. The team qualified for the UEFA Europa League 2012/13. After progressing from the Play-off round against Atromitos, Newcastle were drawn in Group D to face Bordeaux, Maritimo and Club Brugge.
When Virgin Money acquired Northern Rock bank on the 1st day of the year 2012, the logo of Virgin Money replaced that of Northern Rock as from the 4th January 2012, after a 9-year relationship between Newcastle and the troubled bank. The deal entered into by the club had a provision that they can terminate it after 12 months, and Newcastle have now announced that they will be taking up that option. This came about because Newcastle United have secured an “excellent commercial deal” according to managing director Derek Llambias. The new sponsor will be announced in the coming days. The logo of Virgin Money will continue to appear on the club’s shirts for the remainder of the 2012/13 season, so that a new strip doesn’t have to be released midway through a campaign.