In a long-rumored move that's sure to draw controversy, Bolton Wanderers have announced their new shirt sponsor following the end of the previous sponsorship deal with 188Bet. The Trotters will now wear QuickQuid's logo on the front of their shirts for the next two years. The deal is rumored to pay £500,000 over the two years.
The general reaction from fans, outside of Bolton included, is a negative one.
QuickQuid are a "Payday lender" and are scrutinized for providing quick loans with (an industry standard high APR). A similar move from Newcastle United last season when they picked up Wonga as their shirt sponsors drew much criticism from the Magpies fans. QuickQuid attempt to take a more responsible role, as per a release on their website that lists borrowers' rights:
- Access reliable and licensed credit. We run full consumer credit history checks and a proprietary credit scoring model that assesses your ability to repay.
- Know how much your loan will cost before you apply. We provide clear and easy to find Rates and Terms along with the ability to view the total cost of your loan before you ever sign the contract.
- Know that you won't pay more than you should. We never charge hidden fees. What you see is what you get. Only a flat finance charge is owed for the services provided.
- Know that you are protected. We always maintain our Consumer Credit Licence #603395/1 under the Consumer Credit Act 1974 and follow all UK lending rules and regulations.
- Change your mind. We allow 24 hours to withdraw your loan at no cost, which is above and beyond your statutory withdrawal rights.
- Know that you're working with a trustworthy lender. We stand by only the highest lending standards as members of the Consumer Finance Association (CFA). Learn how CFA membership helps you.
Bolton's partnership with QuickQuid will last for two years (pending any further extensions). Chairman Phil Gartside commented on the deal via a club press release:
"We are excited to welcome QuickQuid as our new principal partner. In our discussions it became obvious very quickly that both parties wanted to develop a partnership that engaged with all elements of the football club and community, and as much as anything else, to bring some real fun to matchdays.
"This is one of QuickQuid's initial UK sports partnerships, and I am delighted that they have joined with us at Bolton Wanderers. Their energy and enthusiasm to help develop initiatives in collaboration with the Community Trust, and to support education and other sporting opportunities in and around Bolton has been extremely refreshing.
"And of course, they are also very excited to be supporting Bolton Wanderers in what should be an enthralling push for success on the pitch over the next two seasons."
Also commenting was Greg Hohnstein, Head of Partnerships for QuickQuid:
"We are delighted to be working with Bolton Wanderers over the next two seasons - and possibly longer. We were immediately impressed by the evident passion of the Club and its supporters. We are excited to be part of a strong partnership as it develops over this period to help bring success on the pitch, and positive results and opportunities in the wider community."
The logo will debut on Bolton's new shirt which launches on 9 June.
The deal leaves a lot of ethical questions and many fans are upset by the move. An internet petition started by Bolton fans against the deal has already drawn 500 signatures.