– Mayor of London spokesperson
"The Mayor sees Barclays' support as one of the core reasons this scheme has been such a success, and far from pulling out, their commitment through to the end of 2015 means cycle hire continues to grow - later this week the Mayor will celebrate that at the opening of the latest scheme in south-west London. From 2016 there will be a new sponsor to help us take the scheme forward in the years to come."
Barclays is to end its sponsorship of the capital's "Boris Bikes", introduced by London Mayor Boris Johnson to the capital in 2010.
The bank's logo has adorned the blue cycles since their introduction three years ago.
But TfL will be forced to look for a new sponsor after Barclays announced plans to discontinue the deal at the end of its contract in 2015.
The announcement comes in the wake of concerns over cycling safety in the capital, following a spate of deaths of London's roads.
However, a Barclays spokesman said the decision had nothing to do with the recent tragedies.
New upgrades to the operating system of Barclays Cycle Hire will be implemented over this weekend.
Barclays Cycle Hire will be unavailable to unregistered members from around 20:00 on Saturday 14 September until late on Sunday 15 September. Registered members with a valid access period will still be able to hire bikes during this period.
Transport for London say they will work to ensure that these works are carried out as scheduled to minimise any further disruption to users.
The latest upgrades will make it easier to hire a bike as a casual user, provide better account history information to members, improved terminal information and clearer directions to the nearest available docking station.
TFL have said the upgrades will make it easier to hire a bike as a casual user, provide better account history information to members, improved terminal information and clearer directions to the nearest available docking station.
Boris shows the cycling public how it's meant to be done. The new extension to the Barclays bike hire scheme means that a total of around 8,000 bikes will be avaiable from around 570 docking stations
London's mayor takes one of his 'Boris Bikes' for a spin to mark the announcement that cycle hire scheme will be expanded further.
The new extension to the Barclays bike hire scheme means that a total of around 8,000 bikes will be avaiable from around 570 docking stations. By comparison the Velib scheme in Paris has now expanded the scheme to have 1,750 docking stations 24,000 bikes.
Londoner's will only have a third of the bikes available compared to their Parisian counter part.