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.