Northern Rock will remain Newcastle United's main sponsor for the 2008/2009 season continuing to fulfil their contract which is set to expire in 2010.
The banking company who are £26billion in debt and who also sponsor fellow North East teams, Newcastle Falcons and Middlesex and Durham cricket clubs will continue to sponsor the football and rugby due to the "commercial interest of the bank".
Northern Rock executive chairman Ron Sandler said, "We have already ended a number of sponsorships that I inherited. But we have chosen to continue the sponsorship of Newcastle United and Newcastle Falcons, partly because of commitments we have entered into there - sometimes sponsorships continue until they come to a contractual end - and partly because I believe it is in the commercial interest of the bank that we should continue with both of these."
Northern Rock has instead chosen to terminate the contracts of Middlesex and Durham county cricket clubs.