The Conservative candidate for London Mayor says if he’s elected, he’ll offer companies the chance to buy naming rights of stations.

The Telegraph reports that Shaun Bailey thinks the idea could raise £100 million per year for the network. Suggestions include Knightsbridge Station being renamed Harrods.

Naming of stations already exists on the Dubai Metro with 21 station names sold for more than £300 million.

The suggestion comes a week after TfL revealed its advertising revenues had plummeted by 90 per cent in the first quarter of the financial year, with bosses warning that the coronavirus pandemic has caused a “catastrophic impact” on the business. The organisation has already sold naming rights to its cycle and cable car services.