A once-bitter licensing disagreement between three-time Tour de France champion Greg LeMond and Trek Bicycle Corp. has been settled with glowing words from both sides, the two parties announced Monday.
The out-of-court settlement ends a nearly two-year legal dispute between the Medina resident and Trek over use of LeMond's name for a line of Trek bikes.
Terms of the agreement include two $100,000 contributions to 1in6.org, a charity chosen by LeMond that helps men cope with the aftereffects of abusive childhood sexual experiences.
In a joint statement, LeMond said he took "deep satisfaction" in the resolution of the lawsuit and thanked Trek for supporting the charity he selected.
Trek President John Burke praised LeMond for his "hard-won place in the Pantheon of bicycle racing," adding, "We are proud of what we were able to accomplish together."
Waterloo, Wis.-based Trek ended a 13-year licensing agreement with LeMond in 2008, claiming that LeMond's comments about allegations that rival Lance Armstrong took performance-enhancing drugs were bad for its business.
LeMond sued and in his lawsuit claimed Trek didn't do enough to sell the LeMond line of $1,000 bicycles.
David Phelps • 612-673-7269
