Coke Aims To Fizz As 'Boris Bikes' Sponsor

By Mark Kleinman, City Editor

Coca-Cola is among a number of international brands vying to replace Barclays as the headline sponsor of London's pioneering cycle-sharing scheme.

Sources have told Sky News that the soft drinks giant is one of several companies which have proposed to Transport for London (TfL) taking over the deal at an annual cost of at least £5.5m.

Barclays, which has sponsored the popular initiative since 2010, will end its association next year, paving the way for another major consumer brand to put its logo on more than 10,000 bikes across the capital.

Nicknamed 'Boris Bikes' after the London Mayor, Boris Johnson, the scheme's new partner is expected to be named early next year following a three-month tender process run by TfL which expired at the end of September.

Coca-Cola last month struck a deal to sponsor the London Eye, the Central London attraction owned by Merlin Entertainments Group, and it is unclear whether that agreement will impinge on the company's willingness to spend a further substantial sum on an association with the cycle-sharing venture.

If the soft drinks manufacturer, whose brands include Fanta, Powerade, Sprite and Coke Zero, did proceed with a deal to sponsor the bikes, it could prompt criticism about TfL's willingness to accept money from a major soft drinks producer.

Speaking in July, Mr Johnson said the bikes had been rented more than 31m times since the scheme's launch and that they were now "as recognisable as our iconic black cabs and red buses".

In a statement, Graeme Craig, TfL's director of commercial development, said:

"The tender process to find a new sponsor for London's iconic cycle hire scheme has now closed.

"We have had a very positive response and have received bids from a number of top global brands across a range of sectors. We will now be evaluating their submissions.

"We expect to announce the name of the successful partner for TfL's internationally recognised bike sharing scheme early next year, with the new sponsor in place by summer 2015."

A spokeswoman for Coca-Cola, which was also a major sponsor of the London Olympics in 2012 through its association with the International Olympic Committee, said:

"We are always looking at partnerships which are a good fit for our brands, but we do not comment on speculation."

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