Newcastle United Football Club has chosen to end its two-year sponsorship deal with Virgin Money a year early.
The agreement was due to run until the end of the 2013/14 season, coming to an end in May 2014, but the club has decided to exercise a clause in the sponsorship deal which states either party could terminate the agreement early by giving notice.
The deal will now run until Newcastle’s last game of the 2012/13 season in May.
Virgin Money assumed the sponsorship in January, after acquiring Northern Rock.
It is not yet known who will sponsor Newcastle next season.
Virgin Money chief executive Jayne-Anne Gadhia says: “We were delighted to sponsor Newcastle United given the club’s importance to the North East and had hoped that this would be a relationship that would flourish for years to come. However, they have found a different option and we have to respect that.
“We remain sponsor until the end of the current season and the Virgin Money name will continue to be worn on the iconic black and white shirts until then. We hope it is a really successful season and, of course, we wish the team and fans all the very best for the future, as they strive to build on Newcastle United’s proud heritage.”