Austin cycling legend Lance Armstrong is joining SRAM as an investor, and as a user of their parts. I could care less that disgraced investment firm Lehman Brothers is also involved, but that’s just me.
Here’s one unexpected fan cheering Lance Armstrong’s return to professional cycling: Lehman Brothers Holdings Inc.
The collapsed investment bank recently agreed to make a large investment in a high-end bicycle-components maker. That manufacturer stands to benefit from Mr. Armstrong’s plan, announced Wednesday, to join a Kazakhstan-based racing team next year.
Team Astana uses components made by a Chicago company called SRAM Corp. That is big news in the cycling world, given that Mr. Armstrong spent much of his career using gears, brakes and other components made by Shimano Inc. of Japan.
Mr. Armstrong is investing several million dollars into SRAM, where he will serve as a technical adviser. He has agreed to use SRAM components when he races. A full set of top-of-the-line SRAM road-bike components retails for about $2,000.
[From Business – WSJ.com]
I believe I’ve passed by 1333 N. Kingsbury before (near Division and Halsted), but cannot seem to find any good photographs in my files.