Newcastle United have renamed St James’ Park.
The ground, which has been the home of the Magpies since 1892, has been rebranded as the Sports Direct Arena after club owner Mike Ashley’s company.
According to the club, the name change is a temporary measure, pending a more long-term sponsorship opportunity from “interested parties”.
In a statement released on Wednesday, managing director Derek Llambias announced that the club has dropped the ground’s world-famous moniker in the hope of selling naming rights, a lucrative source of revenue that will help the north eastern club compete financially with Manchester United, Liverpool, Chelsea and Arsenal.
“Our aim for Newcastle United is to continue to deliver success for the fans and everyone associated with the club,” said Llambias.
“We must make this club financially self-sufficient in order to deliver that success.
“To grow sustainably and allow us to invest in our future, we will need to rely increasingly heavily on commercial income.
“These are very difficult economic times and the board have a responsibility to maximise all revenue streams for the benefit of the Club. Stadium rebranding offers a lucrative way for clubs to secure significant additional income.
However, the move is likely to cause outrage on Tyneside where owner Mike Ashley has enjoyed an uneasy relationship with the fans.
Newcastle currently sits third in the Premiership following an unbeaten start to the season.
Opposition to Ashley’s ownership has been muted in recent years thanks to the club’s relative success under the guidance of manager Alan Pardew.
However, renaming the fans beloved St James’ Park after 119 years of history is likely to reignite tensions between the stands and the boardroom.