Two horse race sees Coca-Cola and Santander slug it out for Boris Bike sponsorship

London’s famous Boris Bike cycle-hire scheme could soon be switching from Barclays blue to Coca-Cola or Santander red after the soft drink and banking giants emerged as the sole contenders for a £40m sponsorship contract.

The pair had been shortlisted alongside British car brand Jaguar Land Rover, which later pulled out of the race, leaving its red-liveried rivals to duke it out for the prize.

An announcement on the winner is expected to be made later this month, ending Barclays’ five year association with the project which has seen it pay TfL £5m per year for the city-wide publicity.

That figure will be upped to at least £5.5m for the new sponsor.

Barclays decided to withdraw from the scheme two years ago and is also rumoured to be eyeing an exit from its Premier League sponsorship.

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