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Through their official website, the club have just announced a completed deal for Wonga.com to be the shirt sponsor starting in the 2013-14 season. The deal is a four-year deal, and includes "£1.5m invested in two of the Club's most important projects".
Newcastle United has agreed a new four-year deal with wonga.com which will make the digital finance company the Club's lead commercial sponsor.
In addition to sponsoring the team shirt from the start of the 2013/14 season and working on a range of other initiatives with fans, Wonga will invest at least £1.5m in two of the Club's most important projects.
There is currently no word on whether the "range of other initiatives with fans" will include short-term loans at a discounted APR of 3750%.
The additional investment will come in the form of money paid to the Academy, which despite 11th hour investment from Mike Ashley earlier this calendar year looks to have been classed Category B and also in a program through the club called the Enterprise Foundation Scheme, which the club describes as thus:
Wonga has also committed to invest in the Newcastle United Foundation Enterprise Scheme. The existing programme helps 15-16 year-olds find employment by developing their skills and experience through practical and educational courses. Wonga's investment will vastly expand the scheme and help more young people in the North-East in their future careers.
While specific financial details have not yet been announced, the deal will make Wonga Newcastle's lead commercial sponsor. Reports are starting to roll in from reputable sources that naming rights are included in this deal and that Wonga will call St. James' Park... St. James' Park.