Newcastle united new sponsor WONGA.COM

[enterprise]

Just to prove it's all about the money, Mike Ashley has now agreed to Newcastle United to be sponsored by Wonga.com. For those of you living outside the UK. Wonga are a loan company, specialising in payday loans, these companies have sprung up on every highsteet and are legal LOAN SHARKS.

 

Once upon a time you could be proud to wear your clubs colours, now you are a walking advertising board.

 

The good news is they are not going to rename the stadium the wonga arena but it is going back to be called St James Park, did anyone really ever call it The sports direct stadium

 

Bad news they are sponsoring the junior teams

 

To be fair it's not just the Newcastle owners who have sold the clubs soul, there are others you may be able to name. Think Everton have Chang(Heinekin would be ok maybe but have you tasted chang draft) , not sure if anyone has durex, even the mighty Barcelona have in the past few years aloud shirt sponshorship.

 

How about paying the players a bit less, or even a lot less and stop all this bullshit

[mousemat]

I hope the fans boycott the kit as this is an immoral industry that charges over 1000% interest per annum.

 

While I appreciate that peole can choose to take out a loan the level of interest should be regulated.

 

Its been mentioned in the UK press that as interest is illegal under Sharia law the muslim players should not wear the kit - it would be funny if the players actually voiced their concerns.

[Skalliwag]

I hope the fans boycott the kit as this is an immoral industry that charges over 1000% interest per annum.

 

While I appreciate that peole can choose to take out a loan the level of interest should be regulated.

 

Its been mentioned in the UK press that as interest is illegal under Sharia law the muslim players should not wear the kit - it would be funny if the players actually voiced their concerns.

I'm a Newcastle fan,and I don't understand what the issue is.Not being a smart arse,I really don't understand.Wonga is a legal loan sharing operation?What are the laws regarding this?We are very strictly regulated in Canada regarding this sort of thing.They must be above board to be able to sponsor such a huge team in The BPL.

Fill me in,cause I am super interested in this.

Go Maggie's.

[mousemat]

I'm a Newcastle fan,and I don't understand what the issue is.Not being a smart arse,I really don't understand.Wonga is a legal loan sharing operation?What are the laws regarding this?We are very strictly regulated in Canada regarding this sort of thing.They must be above board to be able to sponsor such a huge team in The BPL.

Fill me in,cause I am super interested in this.

Go Maggie's.

 

In the UK this new type company who offer short term loans with massive APR's are not regulated, although some MP's are campaigning for a change in the law. The Financial Services Authority (The UK financial regulator) has not imposed any criteria as to capping APR rates and this is where the problem occurs. They are called loan sharks because of the massive immoral interest rates incurred by their customers.

 

The criteria to start a company like Wonga is easy compared to a bank offering loans to customers.

 

Companies are able to charge interest rates of over 2000% and you see regular stories of families being ruined by the crippling rates.

 

Take a look at this link for some more info http://www.guardian.co.uk/football/2012/oct/09/mp-newcastle-wonga

[monster]

Can we have a realistic look at this - nobody seems to mind the Premier League being sponsored by Barclays.

 

Borrow £200 from Wonga for 30 days - that will cost you = £66

 

(From Barclays website)

Have a 'personal reserve' with Barclays - go into that by £1 = £22 per 5 days = £132 for 30 days (assuming 5 days is 5 working days)

 

Go unauthorised overdrawn with the some of main banks £25, letter £25 - £35. Have some DD payments returned £25 - £35 per transaction - usually a maximum of 3 per day.

 

So go overdrawn by £1 = £25

Return 3 DD = £75

 

So it costs you £100 to borrow £1 for a day

 

Now who looks like a loan shark.

 

APR is a pointless method of comparing short term loans - bit like your football team going up 1-0 after 10 mins then stopping the game and saying we would have won 9 -0 - doesn't work does it.

 

I am not saying I agree with the likes of Wonga but the banks have been charging you more for years and you haven't noticed???

[Skalliwag]

Did Wonga sponsor Blackpool?It all sounds a bit sus.All of it.

[Garf66]

Alan Pardew has told his Newcastle United players to forget all about the club's new sponsorship deal with Wonga.com.

 

He's told them to just get on the pitch and give it 4107%.

[Skalliwag]

Alan Pardew has told his Newcastle United players to forget all about the club's new sponsorship deal with Wonga.com.

 

He's told them to just get on the pitch and give it 4107%.

Haha,love it.Cmon The Maggies.