Newcastle United are reportedly on the verge of announcing a major new shirt sponsorship deal with a Chinese betting company.

The north east side, who will be back in the Premier League next season following relegation to the Championship last year, will reveal the full details of the deal next week, according to the local Evening Chronicle.

As we previously reported on Calcio e Finanza, European clubs are increasingly looking to China to provide sponsorship and commercial deals, and Newcastle’s managing director Lee Charnley and the club’s commercial team recently travelled to China on a business trip in order to sound out potential sponsors.

This visit seems to have been a success. Full details are expected to be announced next week, but the Chronicle reports that a Chinese online betting company will be Newcastle’s new shirt sponsors, and that it is a “big money” deal. It does not, however, include the naming rights to the club’s stadium, St James’ Park.

Regardless of whether the reports are accurate, this weekend’s game against Barnsley will definitely be Newcastle’s final game with current sponsors Wonga on their shirts. The payday loan company announced a £24 million deal with the Magpies back in 2012 to much controversy, with many supporters and even MPs critical of the four-year deal.

Puma, meanwhile, will continue to be the Magpies’ kit suppliers. The club extended their partnership with the German manufacturers in 2014 that will see them supply their kit until 2020.