St James' Park is BACK :)

Wonga can be hugely beneficial if used correctly, if abused it can cause great trouble, just like alcohol, gambling, banks loans etc etc. No shame whatsoever from me in having wonga as sponsors.

 

some quotes by Dekka....

http://www.itv.com/news/tyne-tees/2012-10-09/wonga-renames-newcastle-uniteds-stadium/

 

What's speculative and false about it? Their representative APR is 4212%. Regardless of the relative ethics of other companies, this isn't a nice business. Less than £1,000 might be nominal to you, but after you add in the interest rates it well be less so. Then if you default it will be passed to a debt collection company and finally the bailiffs, both of which will add plenty of charges to a debt you already cannot repay.
Who takes out payday loans at such high interest rates? Poor people, who are more likely to default.

I'd rather it was Newcastle Brown, or we did a Barcelona, but obviously that's just not going to happen. Calling it a win-win situation is slightly ott though.

 

Representative APR is only valid if the loan term meets or surpasses the term ANNUAL. What do you think the A stands for in APR?! Annual Percentage Rate - sure, it's high, but the loan isn't FOR a year, it's for 1 month or less. And it's a good business if used responsibly. The country wants to point a finger at Wonga, when it's the idiotic people who misuse the service who are to blame. You put points out there about debt collection, you think Barclaycard or Lloyds are nicer? You think they don't mind if you're a bit late with payments and will instead send you some flowers with a hand-written "Please may we have the money you owe?" note?!

Unlike betting companies, Wonga aren't pleading with you to spunk money on "in play bets" - fanks, Ray, but no fanks. Unlike Standard Charter and AIG, Wonga aren't using your savings to bet on the price of rice going up. Which makes rice more expensive. Which makes millions die. Unlike Chang, Wonga isn't about pi$$ing your money away. The media's full of it, whatever best serves. And whilst this nonsense goes on, it takes Death Himself visiting Sir Jimmy to make 50 years of *****philia to finally appear. This isn't even a story. It's an £8m sponsorship deal which puts us about 6th or 7th in England, top 15 of the World, so it's progress.

Do yourself a favour and ignore journalists.

 

Yes some journalists get a bit carried away with themselves, think they know everything but they don't.

 

I don't particularly find Wonga attractive investors, but the APR isn't the biggest issue. It's the very public "accidents" they've had where they, and similar loan companies, have taken savings from people who haven't asked or applied for a loan, not to mention the the way these people are treated after these incidents occur.

Of course, there'd probably be misgivings with whoever was the new sponsor, but it seems poor timing commercially for this deal. Wonga, whether rightly or wrongly, have had a negative press, and now brand Newcastle United are tied to it. Hopefully the financial benefit is worth it, but I still think they'll struggle to sell kits with Wonga written on it, so this could be a disaster.

 

personally i think the sports direct arena boards on the outside of the gallowgate and every where else for that matter will be replaced with WONGA @ sjp masive wonga small sjp

 

I know what APR is, I was just pointing out that what you said was 'speculative and horse crap' is actually factual. 4000% makes it sound worse than it is, but APR is the standard measurement of interest.

No doubt Barclays and Lloyds are no angels, but there is a difference in their operating system. Usually (by no means always) banks check your ability to repay loans before they are given out. Wonga on the other hand, make publicity statements about how easy it is to get a loan with them, you can do it in literally 10 minutes with barely any checks. I have a suspicion that they make a fair amount of their income passing on debts to recovery companies after the debtor has defaulted, but that's just the cynic in me.

If you want the club to be and to mean anything more than just another company in search of a profit, surely you'd want to take a stand and say no to any business that isn't fit to be put on the black and white shirt?

I've not taken much notice of the Wonga stories, but I sometimes work for people who have got themselves in debt, and I've formed my own opinions, ta.

 

It will be nice to wake up tomorrow with SJP back

 

You can't get away with it from now on it will always be sports direct arena..
the 80%off arena what a site it is seeing sports direct adverts all over the place and wonga will join in

 

someones a bit gutted with the news..................

 

fine words from Alan...

http://www.footballfancast.com/2012...nited/alan-pardew-delighted-with-stadium-name

 

Wonga just loan desperate people money and thenrape the shot out of them for years.

horrid money making scumbags

 

I watched that interview yesterday, he seemed really genuine!

 

Do yourself a favour and ignore the idiots who tell you 4000% isn't a big deal.

It's true, the reason why it's quoted in APR is for comparative terms. My mortgage APR is 4% - and I pay off the interest every 30 days - in the same way some people take out 30 day wonga loans every month, so for comparative terms - you can see the difference in interest rates - it's astronomical, unnecessary and exploitative.

Ignorance, or not understanding the maths behind interest calculations, are no excuse for accepting wonga as not unethical. (see if you can work out all those double negatives, oops!)

 

Link: http://tyneandwear.sky.com/home/video/42660

Some words from Pardew and Llambias

 

As a Sunderland supporter, St James`s park never left, always was, and always will be. end of realy.