Lance Armstrong is switching his allegiance from Shimano to SRAM in a big way, according to various media reports. Armstrong said last Wednesday that he would compete in the 2009 Tour de France with Kazakhstan-based Team Astana, which uses SRAM components. Armstrong has traditionally raced with components from SRAM’s Japanese competitor, Shimano.
Also, the Wall Street Journal reported Thursday that Armstrong is investing several million in SRAM alongside Lehman Brothers Merchant Bank. LBMB is scheduled to close on a $200 million, 40% stake in SRAM as early as next week. Armstrong will use SRAM components in all his races and serve as a technical advisor to SRAM, the Journal reported.
As many as 20 private equity firms competed to buy a stake in the Chicago company, the newspaper reported. Lehman apparently got the inside track when one of its bankers met Armstrong at a Rolling Stones concert in Rome in 2007.
While Team Astana’s Alberton Contador and Team Saunier Duval-Scott’s Riccardo Ricco placed first and second in the Tour of Italy earlier this year using SRAM components, Armstrong’s return to the sport is expected to generate much more publicity for the company.
A seven-time Tour de France champion, Armstrong has helped raise an estimated $260 million to fund cancer research.
