LeBron Becomes Bicycle Company Owner

Mon March 26 2007
Posted Mar 26, 2007
9,656

CLEVELAND -- The Cannondale Bicycle Corp. Monday announced that LeBron James, through his wholly owned company King James Inc., has acquired an undisclosed ownership stake in Cannondale, company officials announced. Cannondale, a privately held company, has a long history of delivering premium-performance products to athletes worldwide. The company was founded in 1971. The relationship between James and the company started when it designed and manufactured a custom bike for LeBron for his 2006 Kings for Kids Bike-a-thon. "Cannondale is one of the premier cycling companies in the industry," said James. "Biking is an extremely important part of my training routine, and I like to invest in what I know." Cannondale Bicycle Corporation is headquartered in Bethel, Conn.