BP Bikes, Anyone? Rounding Up Replacement Sponsors for London's Bike ShareBy
Barclays is backing out of the London bicycle-sharing program it has sponsored since 2010. The $2.2 trillion British bank is paying only half the £50 million ($82 million) it promised the city, the Guardian reports, in exchange for the right to slap its logo on thousands of bikes and docking stations across the capital. Londoners have been critical about the financing behind the Barclays deal, and the official name—Barclays Cycle Hire—never really took off. More locals call them “Boris Bikes,” after London Mayor Boris Johnson.
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