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LeBron James Invests in Canyon Bikes to Help Fund US Expansion

  • NBA star’s family office will be minority shareholder
  • US represents about a quarter of Canyon’s group revenue
LeBron James
LeBron JamesPhotographer: Ethan Miller/Getty Images

Los Angeles Lakers basketball star LeBron James is betting on the boom in cycling with an investment in Germany’s Canyon Bicycles GmbH

Canyon has raised 30 million euros ($30.5 million) from LRMR Ventures, the family office of James and sports marketing businessman Maverick Carter, and US private equity firm SC Holdings, according to a statement Friday.