Wonga landed Newcastle stadium deal for cut-price fee

Wonga are getting a great deal at Newcastle United for the naming rights of St James' Park.

Wonga are getting a great deal at Newcastle United for the naming rights of St James' Park.

The Mail on Sunday says Wonga is paying the club £1.5million a year for the naming rights to St James’ Park — less than half the valuation estimated by sports marketing experts.

It has been revealed Newcastle commissioned an investigation into the valuation of naming rights prior to rubber-stamping the Wonga deal and were informed they could expect to command between £3m-£4m each year.

Despite the findings of the report, Newcastle owner Mike Ashley and the club’s directors gave the green light to a deal worth considerably less. It is a decision that has restored the traditional name of the ground.

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