Hardly any athlete is better known worldwide than LeBron James. In the future, the NBA star may cycle through Los Angeles on a bicycle from Koblenz. The 37-year-old joins Canyon Bicycles with two business partners for 30 million euros.
Basketball star LeBron James joins the Koblenz-based bicycle manufacturer Canyon Bicycles. The 37-year-old NBA professional from the Los Angeles Lakers, his confidante Maverick Carter and the US financial investor SC Holdings have jointly acquired around four percent of Canyon for 30 million euros, says a spokesman for the Belgian investment holding Groupe Bruxelles Lambert (GBL ). The company is thus estimated at a total value of 750 million euros.
James is considered a bicycle enthusiast. Canyon sells racing bikes, mountain bikes and normal bikes in the premium segment, among other things. The prices for the bikes are often several thousand euros, and some can cost up to 10,000 euros.
According to the “Financial Times”, Canyon generated sales of 475 million euros last year. Since 2016, revenue has grown by an average of 21 percent per year. James, who won a total of four NBA championships with the Miami Heat, the Cleveland Cavaliers and the Los Angeles Lakers, should use his reputation to help Canyon conquer the American market. Sales in the USA are currently said to be only 100 million euros. Canyon wants to double its income in the next four years.
“LeBron is one of the most famous athletes in the world and is really interested in cycling,” quoted the “Financial Times” Canyon boss Nicolas de Ros Wallace. The basketball star’s network in the American sports industry is the “perfect match” for the bicycle manufacturer.
The Belgian holding company GBL, known as the major shareholder of Adidas, acquired a 52 percent majority in Canyon for around 400 million euros at the end of 2020. Company founder Roman Arnold also continues to hold a 40 percent stake in the company.
