Barclay’s funding towards London’s Boris bikes has dropped by £1.5m a Freedom of Information request has revealed.
Mayor Watch report:
Barclays has deducted more than £1.5m from its sponsorship of the capital’scycle hire scheme, a new Freedom of Information request has revealed.
The bank had promised up to £50m towards the loss-making £225m scheme, however poor performance has seen that sum reduced by £1.57m as of 31st January 2013.
The FOI response is the first time Transport for London has admitted to Barclays reducing the value of its sponsorship agreement.