August 8, 2022

LeBron James turning from basketball to bicycles, after £25m fundraising for German model Canyon

LeBron James: One of many best 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 best gamers ever, picked up a 4 per cent stake alongside pal Maverick Carter as their funding car LRMR Ventures led a funding spherical. 

It valued Canyon at £623m, with LRMR’s stake price £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 yr of £398m, with £52m in revenue. 

Gross sales have grown by 21 per cent per yr since 2015, and soared by way of lockdowns as individuals turned to outside hobbies. 

Arnold, who owns 40 per cent, stated James and Maverick’s ardour for Canyon will make them ‘instrumental members’ of the group. 

He stated they ‘instantly understood’ Canyon’s mission. It’s majority-owned by Belgian investor Groupe Bruxelles Lambert.

See also  James Caan Useless at 82