'It is a no-lose situation' - Pardew hails Newcastle's new sponsorship deal

The Magpies manager believes funds from their agreement with Wonga.com will help boost the quality of the first-team squad, while the stadium has been renamed St. James' Park

Alan Pardew believes that Newcastle United's new sponsorship deal is "a no-lose situation" for the Premier League club.

The Magpies announced a lucrative new four-year commercial funding agreement with Wonga on Tuesday, which will see the digital finance company become the club's shirt sponsor from the beginning of the 2013-14 season.

In addition, Wonga has also purchased the naming rights to the club's stadium, bringing an end to its short-lived and controversial period as the Sports Direct Arena, with it reverting back to St James' Park, and will provide investment into both the first-team squad as well as the club's youth infrastructure.

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Pardew told the Magpies' official website: "Wonga have taken over the stadium naming rights and handed it back to us - and I include myself in that. It's St. James' Park again. Our fans must be as delighted as I am.

"Wonga like football, want to see their company involved in it and be useful to the club and I think that's good.

"A lot of sponsors just put their money in and walk away, just happy to have their name on you as an advertising board. But this company want more than that, they want to get involved and I think that's a good thing.

"It gives me extra funds for the first-team, puts St. James' Park back on as our stadium name, and helps develop the Academy.

"So for me, it is a no-lose situation - I am very pleased."

"It's important that the stability of the club is being looked at ... after the disappointment of Manchester United on Sunday, this is good news"
- Alan Pardew

The Tyneside club's new sponsorship deal comes soon after the 51-year-old and his senior coaching staff signed eight-year contracts with the club and Pardew believes that the increased stability provided by the two separate deals will afford the club a positive future.

He added: "It's important that the stability of the club is being looked at.

"We've sponsors for the next four years - it's the best deal we've ever made in terms of sponsorship - and that bodes well for going forward.

"After the disappointment of Manchester United on Sunday, this is some good news for us."