Coca-Cola Looking to Add Some Pop into the Mayor of London's 'Boris Bikes' Cycle Hire Scheme

Iconic fizzy drinks manufacturer Coca-Cola has been touted as the replacement sponsor for London's cycle hire scheme.

Barclays is the current sponsor for the "Boris Bikes", nicknamed after Mayor of London Boris Johnson, but it has already expressed its desire to end its four-year association with the scheme in 2015, which would leave a prime advertising spot across 10,000 bicycles in London.

Sources told Sky News the US brand is interested in replacing the British bank in an annual deal worth around £5.5m ($8.8m, €6.9m).

A spokesperson told the broadcaster: "We are always looking at partnerships which are a good fit for our brands but we do not comment on speculation."

There are also several other major firms reportedly interested in the sponsorship deal, with the winning bidder expected to be announced in early 2015.