LeBron invests heavily in bike company with friends

Los Angeles Lakers star LeBron James excels not only in basketball but also in business.

German bicycle brand Canyon Bicycles has announced that it has received strategic investments from US companies LRMR Ventures and SC Holdings to strengthen its presence in the US market and diversify its offerings.

LRMR Ventures has been described as the family business of four-time NBA champion LeBron James. SC Holdings is owned by a friend of James and sports marketing entrepreneur and media personality Maverick Carter.

Actual figures have not been published because it is a private investment, but according to the portal “CyclingNews” it is about 30 million. USD.

Both companies will be joined by major shareholders Groupe Bruxelles Lambert (GBL) and Roman Arnold, the company’s founders on the board.

James has been a cyclist for a while. When he was 22, King was a shareholder in Cannondale.

“While we were not actively seeking new investors, the LRMR and SC team immediately understood our mission to create the world’s most inspiring and innovative bicycle company,” explained Arnold, founder of Canyon. “Their passion for what we are building will make them a valuable member of our team.”

Jason Stein, founder of SC Holdings, said: “Canyon has been a leader in cycling and pioneering e-commerce directly to consumers for over 20 years.” “From professional excursions to daily cycling on the streets and roads around the world, the influence of the canyon on sports and culture can be seen everywhere.”

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