BLP advises Barclays on £25m sponsorship deal for London’s cycle hire scheme and cycle superhighways
Berwin Leighton Paisner LLP (BLP) has advised Barclays on its sponsorship deal for London’s cycle hire scheme and cycle superhighways.
Set to launch on 30 July, and supported by keen cyclist Boris Johnson, the cycle hire scheme is a public bicycle sharing scheme for short journeys in and around central London, and will be known as Barclays Cycle Hire. The deal, worth up to £25m over five-years, also includes the Barclays Cycle Superhighways – twelve planned cycle routes into central London from outer London.
The sponsorship will give Barclays naming rights for the two flagship cycling initiatives and branding on all bicycles, maintenance support vehicles, uniforms and marketing materials.
The BLP team was led by partner Vanessa Barnett who worked with associate Ceri Owen-Bradley. Barclays in-house legal was led by Fiona Butler and Helen Burt.
Vanessa commented “This was an exciting deal for us to be involved in. We have helped Barclays to take its brand across London and also worked on an important project that offers Londoners a new, sustainable and environmentally friendly mode of public transport.”
Fiona commented “Barclays is excited to be part of the cycling revolution happening in London. We are confident the schemes will become part of everyday London life like the tube or buses. BLP played an important role in helping Barclays to conclude the sponsorship by providing expert advice and going that step further to ensure the demanding timeline was achieved.”
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