As in past years, Londoners will be able to enjoy free travel on Tubes, buses, trams and some rail services from 23:45 on New Year’s Eve.
The Mayor said the sponsorship agreement was a “fantastic deal” which would “allow party goers to welcome the New Year in the world’s most fantastic city, and still get home cheaply and safely, late into the night.”
Diageo’s Andrew Cowan said the company would be using its sponsorship “to remind people to drink responsibly.”
Last year the Mayor signed a sponsorship deal with high-interest loan company Wonga, attacked by critics as a “legal loan shark”.
At the time of the deal, the company charged interest equivalent to an APR of 2689%. Their website currently lists a representative APR of 4214%.
After the tie-up was criticised by London Assembly members, the Mayor described the firm’s interest rates as “extortionate” but refused to scrap the deal.
Transport for London has been providing free travel on New Year’s Eve since it was created in 2001.
In October the Telegraph, which pays the Mayor £250,000 to write a column, reported Diageo could “look at locating our quality people” outside the UK if coalition ministers failed to scrap the 50p tax rate on higher earners.
Johnson has repeatedly argued against the 50p rate.
