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There's nothing wrong with Wonga's wonga

Peterborough chairman backs his Newcastle counterpart

By Darragh MacAnthony 10/10/2012 18:51

After Newcastle are criticised for signing a multi-million pound deal with Wonga.com, Darragh MacAnthony argues there’s nothing wrong with it.

Mike Ashley, Newcastle United - PA Poor old Mike Ashley – he can never seem to get it right whatever he tries to do.

 

Hell, if he signed Messi, I am sure there would be some sting in the tail which would upset local media or fans in Newcastle.

 

Any deal that sees £24 million in income come into a football club in these current economic times should be heralded, celebrated and seen as great business.

 

I personally couldn't care if Wonga made giant sex toys as long as they are legitimate, don't break the laws and always pay on time the money due to the club.

 

Let’s be brutally frank about this for one minute, we all know the current financial problems within the football world and its effect on clubs and more importantly the supporters.


"If banks actually opened their coffers up again and started lending properly, then companies like Wonga wouldn't prosper like they do"

 

Sure, I appreciate that Wonga are seen by some as a sort of modern day loan shark with ridiculously high interest rates; but it doesn't stop people doing business with them, borrowing from them or from them doing business legitimately day to day.

 

It’s not like the banks in the UK are innocent in all this. If they actually opened their coffers up again and started lending properly, then companies like Wonga wouldn't prosper like they do.

 

Wonga might get grief over their interest rates, but then again normal folk don't see the interest rates us football clubs get hit with over managing transfer payments or season ticket money which are just as bad. 

 

"This deal with Wonga will upset the usual people who have no time for the current Newcastle regime"


Ashley and his board of directors are doing what every football team up and down the country should be doing; running a famous club with one of the top three fan bases British football as a business, living within their means, bringing stability on and off the pitch and at the same time turning Newcastle into an incredibly attractive asset.

 

This deal with Wonga will upset the usual people who have no time for the current Newcastle regime but let’s look at the positive facts: it brings more money into the club for player recruitment and more importantly restores the stadium name which is something I believe every Geordie fan wanted to happen.

 

It’s a win-win situation and doesn't come with any extortionate interest rates along the way so in my opinion; no harm, no foul!

 

Darragh MacAnthony is a businessman, owner of Peterborough United and supporter of the Free Kicks Foundation who he donates his fee to. You can follow him on Twitter at @DMAC102


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