Northern Rock continues Newcastle sponsorship

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Nationalised lender Northern Rock today said it would continue to sponsor Newcastle United Football Club after signing another four-year deal worth up to £10 million.

The contract - valued at between £1.5 million and a potential £10 million - will see the bank remain the main sponsor of the Championship team following a long-standing relationship dating back to 2004.

Newcastle-based Northern Rock said it believed the sponsorship contract fitted in with its responsibilities under Government ownership.

Gary Hoffman, chief executive of the bank, 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 provides both of these."