London: Newcastle United have temporarily renamed St James' Park as the 'Sports Direct Arena' after the club announced they are looking to sell naming rights to their stadium.
In 2009, Newcastle invited interest for sponsors to use their name for St James' Park in a bid to boost their commercial revenue in order to keep up with clubs competing for European places in the Premier League.
Whilst the Magpies remain unbeaten in the Premier League this season and currently sit in third place, the announcement may add to the animosity felt towards owner Mike Ashley from the club's fan base.
In a statement, managing director Derek Llambias, said: "Our aim for Newcastle United is to continue to deliver success for the fans and everyone associated with the Club. We must make this Club financially self-sufficient in order to deliver that success.
"To grow sustainably and allow us to invest in our future, we will need to rely increasingly heavily on commercial income. These are very difficult economic times and the board have a responsibility to maximise all revenue streams for the benefit of the Club. Stadium rebranding offers a lucrative way for clubs to secure significant additional income.
"When we initially launched our plans at the end of 2009, we invited sponsors to attach their brand to that of St. James' Park. However, it has become clear that in order to make the proposition as commercially attractive as possible, a potential sponsor must be given the opportunity to fully rebrand the stadium.
"Naming the stadium the Sports Direct Arena helps up to showcase the opportunity to interested parties. We are now actively seeking a long-term sponsor wishing to acquire full naming rights for the stadium."
Newcastle's current sponsorship deal with bank Northern Rock is due to expire at the end of the current season, with Llambias proposing that any future shirt deal may be linked to the stadium naming rights.
"Our shirt sponsorship deal with Northern Rock will also expire at the end of this season, which presents would-be sponsors with the opportunity to acquire both the naming rights and shirt sponsorship deals," he said.
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