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Old 02-01-10, 09:27 PM   #1
Tom Bombadil
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Trek & Greg LeMond reach settlement

We've chatted about this from time to time in this forum. Several forum members own LeMond bikes. Perhaps that brand will reappear at some future point.

Trek Bicycle Corp. and Greg LeMond have settled their nearly two-year court battle.

Terms of the agreement are not being fully released, but Trek general counsel Robert Burns confirmed Monday that it includes two $100,000 payments by Trek to, a charity with which LeMond is involved, aimed at helping men who have been victims of sexual abuse.

Burns said the licensing agreement that began in 1995 was terminated Jan. 30, 2010, and LeMond, a three-time Tour de France winner, now has the rights to the LeMond Bicycle brand.

Trek stopped making LeMond bikes in April 2008, when the Waterloo bicycle manufacturer filed suit in U.S. District Court seeking to end the collaboration. Trek said LeMond's public accusations that seven-time Tour de France winner Lance Armstrong used performance-enhancing drugs damaged the company, and said LeMond undercut Trek dealers by buying LeMond brand bikes and selling them at discounted prices.

LeMond countered that Trek did little to promote his brand.

In a joint statement Monday, LeMond said, "I am pleased to resolve the issues between Trek and myself and am happy to be able to move forward with the things important in my life."

Trek president John Burke said LeMond has "a hard-won place in the Pantheon of bicycle racing and we are proud of what we were able to accomplish together."

Trek has said LeMond bikes accounted for $15 million of Trek's $665 million in revenue in 2007.

The settlement does not affect jobs at Trek's Waterloo or Whitewater (both in Wisconsin) plants, Burns said.
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Old 02-01-10, 09:40 PM   #2
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Though not yet old enough to gain entry into these hallowed halls, the OP caught my interest. The fact that Greg is getting his namesake back is nice, but I do have a question: Who ended up with the designs?
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Old 02-01-10, 09:51 PM   #3
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As the owner and lover of two LeMonds I can only hope Pacific Bicycle doesn't end up with them.
I have to agree with LeMonds claim Trek did not try to push his brand. Of all the Trek dealerships
I have been in I only found one that had any products branded LeMond other than a couple bikes on the floor.
That store had two LeMond jerseys on the rack.
I hope LeMond gets the designs from Trek as my Versaille is a great ride and very comfortable, my Etape
is the best riding aluminum bike I have ever been on.
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Old 02-01-10, 10:00 PM   #4
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I'm the owner of an '02 Alpe De Heuz 859 steel roadie. 19~ pounds with my Mike Garcia custom wheelset.

I agree, that would really suck if Pacific Bicycle got 'hold of the Lemond name.
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Old 02-02-10, 05:25 AM   #5
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If there is future litigation, someday, Lance may own the Lemond name, wallet, shorts, first born.................

Or perhaps, Lemond will own Lance.
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Old 02-02-10, 05:29 AM   #6
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I'm glad Greg has one less battle to fight. He's such an overlooked and under appreciated figure, but we American's tend to have a short memory. As for Trek, I never understood how they thought they could have Armstrong and Lemond in the same house. Winning the TdF once requires a competitive spirit bigger than most, but winning it multiple times.... there was bound to be issues.
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