Fans Oppose Pay Day Loan Advertising April 11th, 2012
Advertising is a wide ranging an effective means of companies letting potential customers know about their products and services, but a group of football fans have joined together in an attempt to stop pay day loan companies advertising their products via their football club’s website.
Northampton Town football club was allowing the pay day loan company Wonga to place advertisements for short term loans on its website, but one supporter of the club has started a campaign to ban such advertising through sporting organisations.
Bob Ward started the campaign after he saw an advert for the pay day loan company on his clubs website and following investigations, found that a large number of football clubs are advertising pay day loans on their websites, through a deal which was arranged and approved by the Football League.
After raising the issue with his own club, Mr Ward has now also gained support for his campaign to ban pay day loan advertising through football club websites, from a total of 24 separate clubs, including Burnley and Southend United.
Mr Ward said “We would prefer clubs to seek other forms of advertising revenue rather than earning money from the dubious activities of pay day loan companies.”
He also pointed out that football clubs should be doing things to help their fans to avoid expensive loan debt, rather than encourage them to take out pay day loans.
“If clubs really wish to advertise short term loans, it would be better to give publicity to credit unions. Fans should e mail clubs urging them to opt out of the Football League’s Interactive Wonga loan ads, until there is proper regulation of the industry and a cap on the interest rates that can be charged on this type of loan.”