When Wonga was added to the list of Mike Ashley’s crimes against the good name of Newcastle, many fans were appalled.
One of the poorest regions in the UK having a legal loan shark charging ridiculous levels of interest emblazoned across the shirt of it’s football club, yet another reason for the once good name of the club to be dragged through the mud.
However, those unhappy fans may have reason for hope, as it looks increasingly unlikely that Wonga will be continuing their relationship with Newcastle United.
A crackdown on payday lenders led to a £37.3m loss by Wonga in 2014 and now the figures for 2015 have been released and the slide continues at a pace.
The 2015 losses are £80.2m and the company saw revenue drop from £217.2m to only £77.3m, Wonga blaming the regulatory body’s stricter lending criteria and introduction of a regulatory price cap.