 |
| Sports Marketing |
| Sponsorship Activation |
| Sponsorship Acquisition |
| Marketing Services |
| Featured Sponsorship |
| Current Sports Sponsorship Opportunities |
| Sports Marketing News |
| Useful & Local Links |
| Contact Us |
IML Sports Marketing
Building D5
Fairoaks Airport
Chobham
Surrey
GU24 8HU
Tel: 0871 399 0089
Fax: 01276 858010
Email
View map
Building D5
Fairoaks Airport
Chobham
Surrey
GU24 8HU
Tel: 0871 399 0089
Fax: 01276 858010
View map
|
Northern Rock's deal with Newcastle draws criticism
|
|
Northern Rock's GBP 10 million sponsorship deal with English Newcastle United has been drawing heat from critics. Several politicians and north-easterners have said that the bank, which is being helped by tax-payer money, should not be spending money on sports sponsorship but should be focused on mortgage borrowers and business customers. Northern Rock's sponsorship relationship with Newcastle United goes back to 2004 when the bank was in solid growth mode according to the Guardian.
Matthew Oakeshott, a Liberal Democrat Treasury spokesman, questioned the bank's priorities. "Northern Rock needed to be rescued by the taxpayer and is still in intensive care. While it was right to honour the old contract, it was wrong for the nationalised bank to splash GBP 10 million of taxpayers' cash on corporate spin. The time for the bank to agree a new sponsorship deal is when it is in private hands." Some people who lost money when the bank crashed find this deal difficult to understand. Northern Rock sees the linking of two strong north-east brands as a good investment and as representing an "important community link." Chief executive Gary Hoffman said, "We remain mindful of our responsibilities under government ownership and only consider those advertising and promotion channels that deliver a high return on investment and good strategic fit. We believe that the sponsorship deal with Newcastle United football club provides both of these." Northern Rock's is reviewing its sponsorship of the local rugby and basketball teams, Newcastle Falcons and Newcastle Eagles respectively. As of mid-2008 it had ended its deals with Middlesex and Durham, the county cricket teams. Newcastle United, owned by sporting retail tycoon Mike Ashley, is having a good season and is at the top of the Championship. The club will receive the GBP 10 million only if the Magpies retain their Premier League status for a full four years. |
