Newcastle United's owner, Mike Ashley, is being asked to rethink a controversial shirt sponsorship deal with the pay day loans website,wonga.com. It's understood the club is in talks with the company, which offers short term loans with a 4000% APR headline interest rate.
Local politicians have urged him to reconsider associating the club with a firm they say leaves people vulnerable to spiralling debt. The leader of Newcastle City Council, Nick Forbes, has written to Mr Ashley outlining debt problems people in the city have had after using the website. The MP for Wansbeck, Ian Lavery, a lifelong Newcastle United fan, said he "never set foot in St James' Park again" if the deal went ahead.
Newcastle United declined to comment on the rumours.
Wonga.com says it's "very different from traditional payday lenders" and offers an interest rate of 1% per day. It says its customers value the transparency offered on its website.