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
Nationalisation of Northern Rock loan that stood at £26.9 billion at the end of 2007. On 21 October Standard & Poor's Ratings Services revised their outlook on Northern Rock to stable from positive; they also affirmed the bank's long and short-term 'A/A-1' counterparty credit ratings. The Press Association noted on 22 October that Northern Rock may give their employees bonuses in the future, if certain targets in paying back the Government loan are met. On 21 January 2009 it was revealed that the bank's employees would receive a 10% bonus, due to the bank meeting its targets for repaying the Government loan. This caused