Northern Rock take over from telecommunications giant NTL

Newcastle-based Northern Rock, which also sponsors Durham County Cricket Club and the Newcastle Falcons, has taken over the last two years of a contract initially negotiated with telecommunications company NTL.

The company says it hopes to enter into a new deal when the current arrangement expires in 2005.

Details of the finances involved have not been revealed, but it is Northern Rock's biggest ever sponsorship deal.

Newcastle United chairman Freddy Shepherd said: "We are established as one of the major players in the Premiership, recognised as one of the leading clubs in European football and we are also developing the Newcastle United name throughout the Far East and beyond.

'Immensely proud'

"Our interim results, announced last week, made very good reading.

"However, we must not rest on our laurels and that's why we are thrilled to be entering into partnership with Northern Rock.

"We are immensely proud of our Geordie roots and, having enjoyed a successful partnership with Newcastle Breweries in the 1990s, it is tremendous for us the be linking up with Northern Rock."

Northern Rock Chief Executive Adam Applegarth, a season ticket holder at St James' Park, was delighted to have clinched the deal.

He said: "The North-East has a great love of sport, and as a North-East company, sport is a very good flagship to reinforce our name and brand across the world to our customers."