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 the private sector by the end of the year. On 17 November 2011 the UK Government announced the sale of Northern Rock to Virgin Money for £747m. On 26 June 2009 the bank confirmed that it was to be split into two parts, an "assetco" and a "bankco". The plan was also to include that the remaining amount of the government loan was to be repaid by the end of 2010. On 28 October the European Commission waived through plans to split the bank off and sell the "good" parts off. On 8 December the Northern Rock plc Transfer Order