Nationalisation of Northern Rock book over 3 years; this would be achieved by Lloyds TSB offering new mortgages to Northern Rock customers who are nearing the end of their fixed-rate deals. It was confirmed on 20 May 2008 that Northern Rock would continue to sponsor both Newcastle United and the Newcastle Falcons, the former due to the long-term agreement between them and the club. Chief Executive Ron Sandler was quoted as saying: "We have already ended a number of sponsorships that I inherited... but we have chosen to continue the sponsorship of Newcastle United and Newcastle Falcons, partly because of commitments we have entered
Northern Rock price was £4.51908. It joined the stock exchange as a minor bank and was expected to be taken over by one of its larger rivals, but it remained independent. In 2000 Northern Rock gained promotion to the FTSE 100 Index, but was demoted back to the FTSE 250 in December 2007 and later suspended from the LSE on nationalisation. On 14 September 2007 the Bank sought and received a liquidity support facility from the Bank of England, following problems in the credit markets caused by the financial crisis of 2007–2008. The bank was more exposed than others to restrictions in