Newcastle United to rename stadium AGAIN? Its just Wonga..

[Seagull over NZ]

I'm amazed companies like this, who are basically legal loan sharks, are allowed to advertise so openly

Absolutely this. If you look at the % APR's on their loans they are an absolute disgrace. They run in to the thousands. I have in the past worked with a debt advisory service and these companies are exactly that, legal loan sharks. And the more exposure they get as genuine businesses by advertising on TV and sponsoring high profile football clubs, then the more they will flourish and the more they will exploit vulnerable people who feel they have no choice but to get short term loans from these people.

 

[Dr. Notthenineo'clocknews]

wonga will lend you £400 and if you pay it back in full in 28 days you pay back over £520, If you need a reletively small amount of money that badly that wonga is your only option, how the f*** can you pay back £520 one month later?

 

[GreersElbow]

I'm amazed companies like this, who are basically legal loan sharks, are allowed to advertise so openly

Let's be honest. Who ever thought of these ideas are a genius, because there's obviously enough stupid people in the UK to fall for the idea.

 

[Kumquat]

2 things:
1. we don't have Sharia Law in this country, so it's irrelevent.
2. How did they get on with Northern Rock & Virgin Money on their shirts then?

Oh, I forgot, this is a massive NON STORY.

Slightly different as the issue with wonga is different because of their extortionate interest rates and debt collection procedures.

 

[Randsta]

wonga will lend you £400 and if you pay it back in full in 28 days you pay back over £520, If you need a reletively small amount of money that badly that wonga is your only option, how the f*** can you pay back £520 one month later?

Arent they pay day loans ...so I'm assuming you pay them back with your pay.

 

[Superphil]

Slightly different as the issue with wonga is different because of their extortionate interest rates and debt collection procedures.

The issue is 100% with banking interest, it is a specific no-no in Islam, regardless of the rates. Wonga, Virgin and Northern Rock all charge(d) interest.

As for methods of debt collection, you should try stealing a loaf of bread in a country that is ruled by Sharia Law, whatever Wonga do here, it doesn't involve a machete and a public playing field.

Or is an option in Islam for "Sharia lite"?

 

[Kumquat]

The issue is 100% with banking interest, it is a specific no-no in Islam, regardless of the rates. Wonga, Virgin and Northern Rock all charge(d) interest.

As for methods of debt collection, you should try stealing a loaf of bread in a country that is ruled by Sharia Law, whatever Wonga do here, it doesn't involve a machete and a public playing field.

Or is an option in Islam for "Sharia lite"?

sorry, wasn't disagreeing with the sharia law point. Just that payday loans companies deliberately target poor people and try and keep them in debt to make money. That's their sole purpose. However disreputably high street banks have behaved, the payday loan model is something much more cynical and I struggle to understand how Newcastle can square the fact that the money they get from wonga comes from poor people. It's not wonga paying for the community work It's the people who they are preying on.

 

[pasty]

If I was a Newcastle fan I wouldn't give a flying f***!

They can rake in millions like Arsenal (the emirates) and us (the Amex) have done!

AND no one will ever call it anything else but St James' Park at the same time. Total no brainer!

The only reason most of our fans call it The Amex is because it wasn't called anything else first. If it had been Falmer Stadium for 10 years and then we changed it we'd all still call it Falmer stadium regardless of the new name.

100% this. Even when we were back at The Goldstone, I wouldn't have cared if it had been given a sponsored name, it would still have been The Goldstone to all and sundry.

This is all apart from the fact, I never call the stadium anything unless I'm specifically asked what it's called:

Q. Where are going Saturday?
A. Football
Q. Where are you playing?
A. Home

 

[¡Cereal Killer!]

Out of interest, when Amex stop sponsoring our stadium, will you continue to call it the Amex? Let's say the new sponsor is someone with a dull name like Legal & General, will you call it the "L and G", or will you struggle not to call it the Amex?

I still call it Falmer from time to time.