July 29, 2011 at 8:07 am #84387
London Mayor Boris Johnson has been accused of giving Barclays the sponsorship of his cycle hire scheme “on the cheap” in a deal that was not put out to competition.
Three advertising consultants contacted by BBC London said the commercial value of what the bank was getting, in advertising alone, was between £9m and £15m a year.
(they pay £5m a year at the mo)
Also the second sponsorship (announced yesterday) could easily have been renegotiated in view of the success of the scheme.