LeBron James turning from basketball to bicycles, after £25m fundraising for German model Canyon
LeBron James: One of many biggest basketball gamers ever
LeBron James is popping from basketball to bicycles, after a £25m fundraising for German model Canyon.
The American athlete, one of many biggest gamers ever, picked up a 4 per cent stake alongside pal Maverick Carter as their funding automobile LRMR Ventures led a funding spherical.
It valued Canyon at £623m, with LRMR’s stake value £25.2m.
Canyon was arrange by Roman Arnold in 2002 in Germany. It sells highway, mountain, triathlon and concrete bikes for as a lot as £11,349, and had gross sales final 12 months of £398m, with £52m in revenue.
Gross sales have grown by 21 per cent per 12 months since 2015, and soared via lockdowns as individuals turned to out of doors hobbies.
Arnold, who owns 40 per cent, mentioned James and Maverick’s ardour for Canyon will make them ‘instrumental members’ of the crew.
He mentioned they ‘instantly understood’ Canyon’s mission. It’s majority-owned by Belgian investor Groupe Bruxelles Lambert.