London cycle hire scheme sponsor confirmed

Today's sponsorship deal gives Barclays naming rights over the scheme

Boris Johnson today confirmed Barclays as the sponsor of both the London cycle hire scheme and the previously announced Cycle Superhighways.

Unveiling a Barclays branded TFL Roundel for the hire scheme, the Mayor announced a five-year, £25m deal with the bank which will give them branding rights to the two schemes.

The hire scheme, which is set to launch on July 30th, was originally conceived by Johnson’s predecessor Ken Livingstone after he saw the success of the Velib scheme operated in Paris. Livingstone confirmed plans for the scheme in February 2008, 3 months before Johnson’s election.

Speaking today, Mayor Johnson said he was “delighted” with the Barclays deal which he said would “help us deliver the cleanest, greenest and healthiest form of public transport that London has ever seen.”

In addition to the Barclays branded roundel, the deal will see the bank’s branding placed on bikes, maintenance support vehicles and on the uniforms of maintenance staff, as well as on all marketing and communications materials.

Deanna Oppenheimer, CEO of retail banking at Barclays, said the firm was “really excited to be part of these two flagship schemes that will help Londoners to lead more active lives and promote the benefits of cycling as a sustainable, environmentally friendly mode of transport.”

London Assembly Member Jenny Jones said: “The £25m will certainly come in handy if it is on top of the existing budget. It will help the Mayor to deal with those too frequent sections of the cycling superhighways which are still not as safe as they could be. Let’s hope this company understands the benefits of cycling and isn’t just in it for the publicity.”