Trek Bicycles has come to terms with racing legend and three-time Tour de France champion Greg LeMond, over a lawsuit filed nearly two years ago. Under the terms of the settlement, Trek has agreed to make a pair of $100,000 donations to a charity called OneInSix.org, a foundation supported by LeMond, which aids men who are the victims of sex abuse.
Simultaneously, Trek also ended its 15-year licensing deal with LeMond, allowing him to regain full rights to the bicycles carrying his name.
In 2008, Trek filed suit against LeMond and halted all production of the LeMond series bicycles. The decision came after LeMond accused Lance Armstrong of using performance-enhancing drugs, which Trek claims damaged the companys reputation. Accordingly, LeMond countered soon thereafter claiming that Trek was not promoting his brand of bicycles.
In a statement relating to the recent settlement, Trek President John Burke asserted that, Greg has a hard-won place in the Pantheon of bicycle racing, and we are proud of what we were able to accomplish together.
In his own statement, LeMond states that he is “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 [and] I appreciate Trek’s support for the work of OneInSix.org.
