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Newcastle are set to ditch controversial shirt sponsors Wonga.

The Championship Magpies will not seek to renew their deal with the payday loan firm at the end of this season – and are looking a new club sponsor.

The famous black and white shirt has carried the Wonga logo for the last three seasons as part of a four-year £24million package.

But it will end in May with the net being cast wide for a fresh corporate deal.

United distributed shirts without the Wonga logo to young fans earlier this month, at a youth tournament organised by the club's foundation and manager Rafa Benitez.

(Image: Newcastle United via Getty)

Wonga's involvement with Newcastle has been condemned by MPs and many fans. The firm as accused of using football to target the poorest fans into taking out high interest short-term loans.

Star striker Papiss Cisse also expressed concern , initially saying that as a Muslim he would refuse to wear the logo.

Wonga have faced huge scrutiny after becoming associated with Newcastle and was branded a “legal loan shark” by campaigners.

(Image: Getty)

Two years ago, the company was forced to pay £2.6m to 45,000 people for sending letters from fake law firms to customers in arrears.

Wonga considered scrapping their sponsorship of Newcastle themselves and reverting to TV ads, after profits fell.

When Newcastle announced their Wonga partnership, they claimed the cash would help them compete for honours at the top end of English football. It was billed as an investment in the youth academy.

(Image: Getty)

It was also claimed, in a PR stunt , that the cash was being used to “buy back” the St James' Park stadium name after it was rebranded the Sports Direct Arena by owner Mike Ashley.

Instead Newcastle have been relegated last season, and now hope Benitez can mount a promotion push this season.

Managing director Lee Charnley and Benitez are seeking to overhaul the club from top to bottom to harness a feel-good factor that has been present since the Spaniard joined in March.

That has included 33,000 season tickets being sold for next season, despite their drop into the second tier.

A spokesperson from Wonga said: "Wonga has a four-year sponsorship contract with Newcastle United Football Club that expires at the end of the 2016/2017 season and it has always been the intention of both parties to end the relationship at this time."