CONSERVATIVES on the London Assembly want to see sponsored tube stations with names such as “Virgin Euston” and “Burberry by Bond Street”, under plans unveiled today.
The report’s authors say rebranding key parts of London’s transport infrastructure – similar to existing contracts for Barclays Cycle Hire and the Emirates Air-Line cable car – could raise funds to keep fares down.
Tory Assembly member Gareth Bacon said selling naming rights could raise the £136m required to freeze all fares for a year: “We have the potential to command tens, if not hundreds of millions of pounds through sponsorship deals on stations, lines, trains and bus routes.”
City Hall has been repeatedly attacked for lack of transparency when it comes to revealing full details of TfL’s payments from Emirates and Barclays.
At the start of 2011 TfL considered rebranding Oxford Circus as “Oxford Landing” for three months in £10m tie-up with the wine brand, only to reject the plan as in poor taste.