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14 Sep 2007, 03:23 PM
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#1
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BigSoccer Moderator
Join Date: Dec 2005
Location: Indiana
Supporter: Newcastle United FC, --other--
Foe: Tottenham Hotspur FC, Sunderland AFC
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British bank rocked by panic withdrawals
Anxious customers of British bank Northern Rock rushed to withdraw their savings Friday, forming lengthy queues in front of branches after the lender was bailed out by the Bank of England.
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How long till their sponsor contract runs out?
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14 Sep 2007, 05:16 PM
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#2
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BigSoccer Member+
Join Date: Jun 2005
Location: The Brougham End
Supporter: Seattle Sounders, Newcastle United FC
Foe: Sunderland AFC, Glasgow Rangers FC
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Re: British bank rocked by panic withdrawals
Quote:
Originally Posted by JaredSS07
Anxious customers of British bank Northern Rock rushed to withdraw their savings Friday, forming lengthy queues in front of branches after the lender was bailed out by the Bank of England.
Link
How long till their sponsor contract runs out?
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I thought bank runs were a thing of the past.
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12 Oct 2007, 01:19 PM
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#3
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BigSoccer Member
Join Date: Dec 1998
Location: Harlem, USA
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Re: British bank rocked by panic withdrawals
Quote:
Originally Posted by JaredSS07
Anxious customers of British bank Northern Rock rushed to withdraw their savings Friday, forming lengthy queues in front of branches after the lender was bailed out by the Bank of England.
Link
How long till their sponsor contract runs out?
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Northern Rock may have a savior (or saviour):
http://www.msnbc.msn.com/id/21264453/
If this deal goes through, Northern Rock would remain solvent & honor their sponsorship contract. That being said, if Virgin saves Northern Rock, you could have new jerseys with "Virgin Money" on the front.
I'm sure Newcastle has a clause in their sponsorship contract which would allow them to court other companies should Northern Rock (or any other shirt sponsor) collapse financially.
Either way it's win-win for the club.
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