Football supporters have grown accustomed to (if never fully embraced) the naming rights of their stadiums being sold. Sponsorship of this type brings in millions for the clubs, and businesses are prepared to pay for the right because of the worldwide exposure it brings to their brands.
But how would London commuters and visitors react to the rebranding of tube stations, entire lines and bus routes? Well, according to a report from a group of Conservative Assembly members, this could raise an estimated £136 million, and they accuse Transport for London (TfL) of being ‘behind the curve’ for failing to take advantage of the lucrative opportunity.
One of the iconic signs the report would be happy to see disappear forever
They point out that rebranding already takes place in cities including New York and Madrid which both sell station names to sponsors. Why not, they ask, allow companies to rebrand stations like Leicester Square, London Bridge and Marble Arch to help improve the balance sheet and offset government funding cuts?
What’s more, they claim to have conducted research showing that four out of five Londoner’s approve of greater commercial sponsorship if it leads to subsidised fares. When it comes to the question of the long-term renaming of stations, one in three said they would support the measure.
However TfL has given the report a lukewarm reception. Commercial development director Graeme Craig described it as ‘well meaning’ but said he doesn’t think it’s appropriate to sell naming rights to anyone ‘waving a cheque book.’
“A Tube map is to show people where a station is and renaming would bring about confusion, especially among the 30 million visitors on the network every year,” he said.
TfL have previously agreed deals with Barclays bank and Emirates airline to have their names associated with the bike hire scheme and the East London cable car, but Mr Craig insists that these cases are entirely different to the proposals contained in the report.
Previous Post
Olympic Park Leaves Lasting London Legacy
