Nationalised bank Northern Rock has signed a four-year sponsorship deal with Newcastle United FC which could be worth up to £10m.
The company, which the Government last year split into two, will be the Championship club side's sponsor until 2014, reports the BBC. The value of the deal is dependent on the club's fortunes but if it manages to regain Premier League status it could be worth up to £10m. Chief executive Gary Hoffman, underlining the bank's links to its community, says the deal was a good one for the taxpayer. Northern Rock was taken into public ownership in 2008, when it was the UK's first major casualty of the credit crunch. It has been Newcastle United's sponsor since 2004.
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