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MP questions football club’s partnership with lender
An MP has questioned a football club’s decision to partner with a payday lender.
Sharon Hodgson, MP for Washington and Sunderland West, wrote to Martin Bain, chief executive of Sunderland A.F.C. (SAFC) to ask for an explanation over a sponsorship deal with Satsuma Loans.
Ms Hodgson stated in her letter to Mr Bain that it was vital that the football club’s positive community engagement work was not undermined by a sponsorship that may reflect badly on it.
The letter read: “While it is welcome that Sunderland are bringing in sponsors, I am concerned, along with constituents who have raised their concerns with me directly, about what example this sponsorship deal sets to the people of Wearside.”
Following her letter, Ms Hodgson added: “Payday lenders can be a dangerous way of pushing people already financially squeezed into debt, and sometimes even further into debt, when they advertised such quick loans with the sting in their tail of high interest repayments.
“Personal debt is a problem here in Sunderland and for our top sports team to be working with them needs further explanation about why this decision was come to, and what Satsuma Loans will be doing to work with our local communities.”
Ms Hodgson claimed that Satsuma Loans had a representative APR of 1,575%.
The letter continued: “The use and promotion of payday lenders can only hinder those who are trying to get themselves out of debt or could find more sustainable loans, rather than out of desperation going for a loan with a payday lender which would only put them in more debt.”
Sunderland AFC has declined to comment on this matter.
Satsuma Loans is the online arm of Provident Financial and offers unsecured short-term loans.
A spokesperson for Satsuma Loans said: “Our partnership with Sunderland FC will allow Satsuma to provide entertaining match day and online engagement, community activities and competitions/giveaways.
“We do not actively try to sell our products to that audience through our sponsorship, although our company name is visible.
“We also help our sponsorship partners to enhance their club through all of the above and other in-kind and financial support both for them and their community foundations.”
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