Newcastle United mulls selling naming rights to St James’ Park
Newcastle United is looking to sell naming rights for its St James’ Park stadium as it looks to raise money after failing to find a buyer for the club.
The club says in a statement that it is looking to “maximise its commercial revenues” and is “welcoming offers” for naming rights to the stadium, which has been the club’s home ground since 1892.
It adds it is also seeking a new shirt sponsor and kit deal to replace Northern Rock and Adidas respectively, as both deals expire at the end of the current season.
The news comes as the club’s owner and Sports Direct founder Mike Ashley announced that he had taken the club off the market after a consortium led by local businessman Barry Moat failed to meet the £80m asking price.
Ashley has been trying to offload the club since September 2008 when he first put it up for sale. He withdrew it soon after but put it back on the market following the club’s relegation from the Premier League in May.
The club also announced that Ashley will invest a further £20m into the club this week.
