Wednesday, March 28, 2007

Lebron James and Cannondale

I don't get it... lebron's bought a stake in Cannondale
Here's the story

NBA superstar LeBron James purchases stake in Cannondale
LeBron James isn't just about big air,

The Cannondale Bicycle Corporation announced this week that it had sold an undisclosed ownership stake of the corporation to King James, Inc., the wholly owned company of Cleveland Cavaliers star LeBron James.

Although just 22 years of age, James has already racked up an impressive list of athletic achievements, including the National Basketball Association's coveted Rookie of the Year award which he won when he was only 19 (and straight out of high school). In addition, James is proving to be a savvy investor and has lofty business goals, having previously stated that he wants to become the first "billionaire athlete".

"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."

Maverick Carter, CEO of LRMR Innovative Marketing & Branding (where James is both a client and part owner) added, "LRMR is constantly seeking interesting investment opportunities for LeBron, who is a smart and sophisticated businessman. Cannondale is the perfect fit for LeBron and LRMR as we continue to invest in companies that are leading, cutting-edge brands."
Thanks for the giant 29" wheels

According to Cannondale CEO Matt Mannelly, "We're very excited to have LeBron as an owner. In addition, LeBron is one of the world's most accomplished athletes and we are proud to provide him with bicycles for his cross-training. LeBron is an astute entrepreneur and investor who recognizes the quality of our products and value of our business, and he will certainly extend the awareness of the benefits of cycling to more people."

Indeed, James has been coined by officials at Cannondale as a "pretty legit" cyclist who regularly puts in "20 to 40-mile rides" (32-65km) as a supplement to his usual training. At 2.03m and 118kg (6' 8" and 260lbs), though, it should go without saying most off-the-shelf 'XL' frame don't fit James all that well. To accommodate the towering forward, Cannondale built a custom 29er based on its Caffeine model that incorporates a set of Hollowgram Si cranks and a custom Lefty fork with an extended steerer tube that places the handlebars about 9cm (3.5") higher than normal. Naturally, the bike is painted in James' Cleveland Cavaliers team colors.

Cannondale has also partnered with James in supporting the athlete's philanthropic endeavors as well, having provided bicycles for the James Family Foundation's annual "King for Kids Bike-a-thon", a charity event in Akron, OH created to benefit children and single mothers.

1 comment:

Neena said...

You write very well.


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