Rock sells Falcons' rugby ground

Northern Rock will continue to be the club's main sponor

Former troubled bank Northern Rock has sold the grounds of Newcastle Falcons' rugby club.

Earlier this year the bank confirmed it bought the ground for �14.7m, weeks before seeking Bank of England emergency loans in September 2007.

Now Northumbria University has bought the land, at Kingston Park in Newcastle, for an undisclosed fee. The club will continue to lease the site.

Northern Rock said it would continue to be the Falcons' main sponsor.

The bank had earlier said it had started the process of buying the ground "months ahead of the onset of the global liquidity problems that affected the company".

Strong links

The university said it wanted to work with the club to develop the UK's first ever rugby-based Centre of Sporting Excellence.

Vice-Chancellor Professor Andrew Wathey, said: "The university has enjoyed strong links with Newcastle Falcons for a number of years, bringing benefits to the sport of rugby and to both organisations.

"In 2002, we worked with the Falcons on the planning application to develop Kingston Park and the University's sports ground at Bullocksteads.

"It has always been our intention to develop a centre of excellence around rugby in partnership with the club."