Lance Armstrong is buying a stake in SRAM along with Lehman Brothers, according to SportsOneSource. The total Lehman investment is $200 million for 40% of the company but there’s no word on exactly how much Lance is putting up himself. Lance’s new cycling team, team Astana, uses SRAM components so it seems like a pretty good investment all around.
At Interbike we attended the press conference with Lance Armstrong and noticed 3 SRAM guys (including the president of the company) sitting a couple rows behind us, matching red SRAM shirts and all. I thought it a little strange at the time because we knew the conference was for press members only (strictly enforced). Then again I suppose a few million dollars can get you in anywhere you want 😉
