Wednesday, April 9, 2008

Gee Greg, Maybe you should have shut your mouth?

For Immediate Release
April 8, 2008


Move Comes in Response to LeMond Threats,
Ongoing “pattern of inconsistent business dealings”
Waterloo, WI — At an employee meeting held today, John Burke, President of Trek Bicycle
Corporation, announced that Trek has filed suit in Federal Court in Madison, WI, to sever the
company’s ongoing relationship with three-time Tour de France winner Greg LeMond.
“Beginning in 1995 we had high hopes for the LeMond partnership,” said John Burke,
president of Trek Bicycle Corporation. “And I am sorry it has come to this after so much hard
work on the LeMond brand. But this troubling pattern of inconsistent business dealings forced
us to do this, for the sake of the Trek family—our retailers, employees and customers.”
Since 1995, Trek has licensed the LeMond brand name and has produced road bicycles under
the LeMond Racing Cycles name.
The move by Trek has come on the heels of LeMond serving Trek with a 41-page suit on
March 20, 2008, to be filed in Minneapolis, Minnesota. LeMond’s suit was characterized by
Burke as containing false and irresponsible allegations which “forced us to immediately end
our relationship with Greg.”
The action filed by Trek Bicycle Corporation against Greg LeMond asks the court for
declaratory judgment against LeMond and asks that the relationship be terminated due to
multiple breaches of the contract. The breach of contract claims are based on LeMond’s
ongoing pattern of public statements and actions which Trek believes have continued to be
detrimental to the Trek-licensed LeMond Racing Cycles name and trademark, to the Trek
brand as a whole, and to the Trek reputation in the global bicycle market.
At the employee meeting, Burke presented a timeline of the Trek business relationship with
LeMond and the development of the LeMond brand.
Trek Bicycle Corporation began its business relationship with LeMond in 1995 and, since then,
has produced the LeMond Racing Cycles brand of road bikes. In 1999, the LeMond line was
one of the fastest growing road bike brands and one of the top five largest road bike brands in
the United States.
The presentation highlighted the ongoing issues with the relationship, its impact on the
LeMond and Trek brands and the reasons for the decision to sever the relationship. Despite a
series of innovative designs and continued support from Trek, due to LeMond’s actions and
the public response, the LeMond brand has consistently failed to live up to its potential in the
“For years, Trek has tried our best to make this relationship work. And for years, Greg
LeMond has done and said things that have damaged the LeMond brand and the Trek brand
as a whole,” said Burke. “His actions are inconsistent with our values—values we believe in
and live everyday. And after years of trying to make it work, we are done. It’s time to sever this
relationship and allow Trek to do what it does best—build the world’s greatest bicycles and
provide our customers with a great product and exceptional customer service.”

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