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 before the removal of the guarantee at the end of May. This means that, like most banks, only the first £50,000 (or as of October 2011, £85,000) deposited is guaranteed. When the British Government nationalised the bank, they noted that it was to be a temporary measure, and one of their aims was to eventually return the bank back to the private sector. On 26 April 2009, "The Times" suggested that the Government would sell Northern Rock by the end of 2009. Potential buyers included Virgin Money, National Australia Bank, Santander, Blackstone and TowerBrook. "The Times" noted that a British