It’s so Wong

FANS' FURY ... owner Mike Ashley

NEWCASTLE have been slated for signing a big-money sponsorship deal — with a “loan shark”.

Toon bosses today announced a four-year contract with controversial firm Wonga.

As part of the deal, their stadium — which was re-branded the Sports Direct Arena by owner Mike Ashley — will revert to St James’ Park.

Wonga, whose logo will be on Newcastle shirts from next season, offer pay-day loans which are paid back with interest rates up to 4,214 per cent.

And leader of Newcastle City Council Nick Forbes has blasted the arrangement.

Forbes fumed: “I’m appalled and sickened that they would sign a deal with a legal loan shark.

“We see the devastating consequences of people getting into financial difficulty and we spend a lot of money each year helping people who are in debt through companies like this.

“It’s a sad indictment of the profit at any price culture at Newcastle United.

“We are fighting hard to tackle legal and illegal loan sharking and having a company like this right across the city on every football shirt that’s sold undermines all our work.”

Ian Lavery, MP for nearby Wansbeck, has vowed to rip up his season ticket in protest at the deal.

He added: “A city like Newcastle and the region should not have any ties with an organisation like Wonga.

“This business makes profits off the back of deprived people who are desperate and who are the most vulnerable in society.

“It’s an absolute outrage and I now won’t set foot into the stadium.”

But managing director Derek Llambias said: “We are building a club that can regularly compete for top honours at the highest level.

“As everyone knows, a strong commercial programme is vital to this goal.”