Newcastle seal record-breaking £24m deal after talks completed – report

Tue 16 May 2017 14:34, UK

By Harry Sykes

Newcastle United have sealed the biggest shirt sponsorship deal in their history that is worth at least £24million, according to a report.

The Chronicle claim the newly-promoted north-east giants have completed a money-spinning agreement that puts the current deal with Wonga in the shade.

It is said that the contract with Fun88 is worth at least £8million-a-year as it is spread over three years, while the £24million Wonga package averaged at just below £5million-a-year as it was over five years.

Newcastle announced on their website on Monday that Far East gaming company Fun88 will sponsor the club’s shirts from next season for three years.

The north-east giants did not divulge the sums involve, but the Chronicle report it goes beyond the revenue from the Wonga contract.

The deal maintains the feel-good factor at Newcastle after they stormed to promotion to the Premier League and confirmed that manager Rafael Benitez will be staying on next season while also being backed to the hilt in the transfer market.

The club bounced back from relegation in 2015-16 to secure promotion back to the top flight at the first opportunity, also finishing as Championship winners.