Newcastle United Football Club announced that Northern Rock plc, the new bank formed following the successful restructure of the Northern Rock business on 1 January 2010, is to become the main sponsor of Newcastle United Football Club.
Since 1 January 2010 the Northern Rock name has referred to two companies - a bank, Northern Rock plc, and an asset company, Northern Rock (Asset Management) plc.
The new contract will commence from the start of the 2010/11 football season. It has a maximum sponsorship potential of £10 million, phased over four years. The contract will expire at the end of the 2013/14 season, subject to agreed reviews.
This follows a long-standing relationship between Northern Rock and Newcastle United. The existing contract expires at the end of the current season.
Derek Llambias, Managing Director of Newcastle United said: "We are naturally absolutely delighted to have signed a new deal with Northern Rock plc and to have their logo adorn one of the most famous and iconic jerseys in world football from the start of the 2010-11 season.
"This alliance underpins the desire of two of the regions most well known names to continue to work together over the next four years.
"Sponsorship of Newcastle United is a proven commercial investment that not only generates significant media value for Northern Rock plc but also enables the bank to connect to customers at a local and national level.
"Newcastle United's aim is to return to the Premier League next season and we believe that collaboration will help both companies achieve our respective goals in the local, national and international marketplace"
Gary Hoffman, Chief Executive, said: "I am pleased to confirm that the new bank has become main sponsor of Newcastle United. There has been a long-standing relationship between Northern Rock and the club, which dates back to 2004, and it represents an important community link.
"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."