Tube stations could be renamed after brands under £100m plan to boost TFL's income

TUBE stations could be renamed under a £100million sponsorship plan to boost income.

Tory London Mayor candidate Shaun Bailey wants to give firms the chance to bid in a move inspired by Dubai’s Metro. 

The plans could see Knightsbridge Station renamed after Harrods and Oxford Circus sponsored by Nike.

Mr Bailey believes the initiative would raise up to half a billion pounds over five years for Transport for London (TfL).

TfL revealed its ad revenues shrank by 90 per cent in the first quarter of the financial year.

Mr Bailey said yesterday: “Dubai makes £419million in sponsorship and their Metro is barely the size of the District Line. This would ensure TfL is fully funded.”

He added: “We need to fix the service that Londoners love. That’s why I’ll invite businesses to sponsor station names and Tube lines.

“With TfL’s funding in crisis, we need ideas like this. We’ve done it before, with Barclays and Santander sponsoring our bike hire scheme.”

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