LeBron James invests significant amount in Canyon Bicycles / News - Basketnews.com

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Los Angeles Lakers superstar LeBron James aims to aid Canyon's ambitious plans for US market growth.

LeBron James

Position:SFAge:37Height:203 cmWeight:113 kgBirth place:Akron, United States of AmericaProfileNewsStatistics

German direct-to-consumer bike brand, Canyon Bicycles, has announced that it has received strategic investments from American companies LRMR Ventures and SC Holdings, as it looks to strengthen its presence in the US market and diversify its offering.

LRMR Ventures is described as the 'family office' of 4-time NBA champion LeBron James. While SC Holdings is run by James' lifelong friend and sports marketing businessman, and media personality, Maverick Carter.

The exact figures have not been shared as it is a private investment, but according to Josh Croxton of cyclingnews.com, the investment is around 30 million euros. The two companies will join the majority shareholder Groupe Bruxelles Lambert (GBL) and Roman Arnold, who is the company's founder, on the board.

James has been a fan of cycling for a while now. He has previously been a minority stakeholder in Cannondale when he was 22 years old.

In 2019 James purchased a 36-inch wheeled mountain bike, while in 2018 he gave a bike and helmet to all 240 new students after opening a new public school for at-risk children in his hometown of Akron, Ohio.

"While we were not actively looking for new investors, LRMR and the SC team immediately understood our mission to build the world's most inspiring and innovative bike company," explained Canyon founder Arnold.

"Their passion for what we are building will make them instrumental members of our team," Arnold added.

"Canyon has been a leader in cycling and a pioneer in direct-to-consumer e-commerce for over 20 years," said SC Holdings founder, Jason Stein.

"From professionals on tour to everyday riders on streets and trails around the world, Canyon's impact on sports and culture is seen everywhere," Stein added.

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