New sponsor for Mile acts

Free Fringe entertainment on the Royal Mile has been saved thanks to a sponsorship deal with Virgin Money.

Last year it emerged that the street theatre performances were in jeopardy after RBS decided not to renew its contract, with Fringe bosses admitting there was no deal in place for this year.

Although it has not been revealed how much Virgin Money will pay out over the three-year agreement, past estimates have placed the sponsorship at 100,000.

Under the deal responsibility for the street performance is given to the sponsor, which funds performance stages, poster towers and waste bins.

Virgin Money's chief executive, Jayne-Anne Gadhia, said: "Our headquarters are based in Edinburgh and we have plans to grow significantly in the city."