From the Guardian

The 100 Club has been saved, not by punks, politicians or Paul McCartney, but by a company that makes trainers. The legendary London music venue has signed a sponsorship deal with Converse, teaming up to "introduce it to a new generation".

"With Converse we have literally found the perfect partner," 100 Club owner Jeff Horton told Xfm. "I don't think I could have cherry-picked [a] better [company]." Although Horton declined to reveal details of the Converse deal, he said that under the agreement the venue's "mid-term future is certainly saved" – and he is "90% confident" in the 100 Club's long-term prospects. More importantly, he insisted, the club will remain independent. "They're not interested in ownership, they're not interested in shareholding ... They just want to stand alongside us as our partners, to make sure that our club coexists with them and through them."

It is still not clear what this means. The venue will not be changing its name to the Converse 100 Club, according to Xfm, but the shoe company will want some kind of return for their investment. "[Converse] wanted to give us a hand," Horton said. "They were the first people to come and see me and ask if they could do anything to help ... The fact that the club will remain independent [is what] appeals to them so much."

Horton certainly needed help. Amid rising costs, higher rent and lower revenues, the venue that helped launch acts such as the Sex Pistols was on the verge of closure. Though support poured in from pop stars, and more than 19,000 people on Facebook, the club's future was in doubt. "I found myself in a position of absolutely needing someone to step up to the plate," Horton said, "but I also needed to find somebody who would suit everybody who campaigned so hard to keep the club open."

With Converse, Horton hopes, he has found that benevolent benefactor. "It's a very cool brand," he said. "I think it dovetails into what the club is about perfectly ... The club's going to be here for another 68 years, hopefully."

Just wondering what people's reactions to this are. I mean it hasn't totaly disappeared like CBGBs but it will be interesting to see what role the Converse sponsorship plays in line-ups and stuff.