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Boris bikes’ set to be painted red under Santander deal

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London’s fleet of blue “Boris Bikes” could be painted in the red and white of Santander, with the bank apparently close to winning the sponsorship deal from Barclays.

Santander is reported to be near a £7.5m-a-year deal to sponsor the cycle-hire scheme, run by Transport for London.

Barclays, which has sponsored the bikes since they were set up across London in 2010, is cutting down on commercial deals, and is not renewing its sponsorship.

Santander and Coca Cola are the last two companies left in the running, as the Telegraph reported earlier this week. Although a deal has not yet been signed, one could be announced as early as next week.

According to Sky News, the Spanish bank is close to winning the contract, and will pay £7.5m each year for seven years, resulting in a total outlay of more than £50m.

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