It was yesterday revealed that Newcastle United’s latest shirt deal with Virgin Money has gone up by 300% compared to the previous agreement, increasing from the £2.5m a year Northern Rock contract to £10m a year with Virgin.
Newcastle owner Mike Ashley has overseen an uplift of £7.5m a year after thrashing out a £10m a year deal with Sir Richard Branson’s Virgin Money. The deal follows Virgin’s acquisition of previous club sponsor, Northern Rock.
The new shirt deal sees Newcastle United up to 6th in annual shirt sponsorship revenue, above clubs such as Tottenham, Arsenal and Aston Villa. Only Manchester United, Liverpool, Man City and Chelsea now stand above us in that respect.
However, bizarrely, local rivals Sunderland have increased their annual shirt income by up to 2000%.
Moving away from their Tombola shirt sponsorship (which brought in a mere £1m a year last season), Sunderland will be exhibiting the ‘not-for-profit business initiative’, Invest In Africa (IIA), on their shirts next season which will mark ‘ground-braking’ advances for the North-east club.
Sports sponsorship expert Repucom International said the owners of Sunderland and Newcastle should be proud of their new deals.
EMEA and South Asia President Danny Townsend said: “The strength of the Newcastle brand meant that Richard Branson wanted to renegotiate and prolong a sponsorship he inherited. Those two clubs deserve credit.”
These developments are a testament to the advances that Newcastle United have made in this past year. The incredible improvements on the pitch, coupled with some much-needed stability off the pitch has helped the club restore its prestige.
Lets hope we can continue this progression next season and show our true worth.