TfL cable car naming rights 'could fetch £50m'

Transport for London (TfL) is attempting to replicate the success of its Barclays Cycle Hire scheme by throwing open the bidding for naming rights to the cable car that will run across the Thames in East London.

TfL cable car naming rights 'could fetch £50m'

Some experts say the deal could fetch up to £50m.The cable car, scheduled to open next year, will connect the Greenwich Peninsula with the Royal Victoria Dock.

TfL is offering the title sponsorship of the cable car, including the branding of stations and the 34 gondolas.

Chris Macleod, group marketing director at TfL, said: ‘It’s going to be one of a kind in London, so we are looking for a significant amount.’

Nigel Currie, director of sports agency Brand Rapport, said TfL could double the £25m it secured from Barclays to sponsor the cycle scheme.

However, Steve Martin, chief executive of M&C Saatchi Sport & Entertainment, said: ‘I think the novelty value is limited. They’ll do well to get half what the "Boris Bikes" got.’