Carl Lewis speeds off-track to back AIM flotation

Carl Lewis, one of the world's greatest athletes and winner of nine Olympic gold medals, yesterday took a break from the track to launch the flotation of Trialtir, a company which has developed a revolutionary mountain bike used by the sports star.

Mr Lewis likes the new bike so much he indicated he was looking to buy shares in the company when it floats on the AIM market next month. He will receive a royalty on every bike, which retails for US$500 (pounds 310), in return for starring in a world-wide advertising campaign.

Robin Kesner, Trialtir's largest shareholder and its American chief executive, stands to make a paper profit of up to pounds 4m on flotation. She will own 50 per cent of the company which is likely to be valued at around pounds 8m. The directors will also be eligible for a share-option scheme but Trialtir has no plans to make Mr Lewis a director and he will not receive any options.

The mountain bike has a unique dual-action system which means that cyclists can pump their arms up and down as well as pedalling to set the wheels in motion. The cyclist can activate the new action, which drives both wheels, by flicking a switch on the handlebars, making it easier to go up hills or pedal over rough terrain.

Mr Lewis said at a press conference in London: "This is something that could change the way we think about health and fitness. I have had the bike for over a year and use it every day. I use it to take my dog out for a run and the bike goes everywhere; on hills, sand or just the street."

This is the first business venture Mr Lewis has become involved with since announcing his retirement from athletics. On Tuesday he crowned his glittering international career by anchoring a US 4x100m relay team to victory in Berlin, his last European track appearance.

Mr Lewis denied he would be tempted to return to the track against some of the world's current sprinting greats for one last big pay day. "Financially things are fine. The only reason I run is for passion and from my standpoint the passion is no longer there," he said.

He plans to continue his lucrative association with the sportswear giant Nike and is planning to get involved with other entertainment and business opportunities. "I am looking forward to my retirement [next month]. It is like graduating from high school and it is easier as I have had such a great career," he said.

Trialtir raised pounds 160,000 via a private placing earlier this year to develop the bike and plans to raise another pounds 1m on flotation. If the London flotation is successful it is considering a secondary listing on the US Nasdaq market.

The group aims to market the product in the US and Europe on QVC, the home shopping channel and on "infomercials" starring Mr Lewis.

It aims to sell 200,000 bikes a year within two years. The company has published illustrative profit forecasts of pounds 1.875m on sales of pounds 6.5m for the year to September 1998.

PROMOTED VIDEO
Arts and Entertainment
Christian Grey cradles Ana in the Fifty Shades of Grey film
filmFifty Shades of Grey trailer provokes moral outrage in US
Travel
travel
Life and Style
The veteran poverty campaigner Sir Bob Geldof issues a stark challenge to emerging economies at the Melbourne HIV/Aids conference
health
Arts and Entertainment
Benedict Cumberbatch and John Malkovich talk Penguins of Madagascar at Comic-Con
comic-con 2014Cumberbatch fans banned from asking about Sherlock at Comic-Con
Arts and Entertainment
Chris Pratt stars in Guardians of the Galaxy
filmGuardians Of The Galaxy should have taken itself a bit more seriously, writes Geoffrey Macnab
News
Sir Chris Hoy won six Olympic golds - in which four events?
news
Life and Style
People may feel that they're procrastinating by watching TV in the evening
life
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Trainee Recruitment Consultants - Banking & Finance

£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...

Graduate Recruitment Resourcers - Banking Technologies

£18000 - £25000 per annum + OTE £40,000: SThree: Huxley Associates are looking...

Associate Recruitment Consultant - IT

£20000 - £25000 per annum + OTE £40,000: SThree: Computer Futures has been est...

Business Analyst

£300 - £350 per day: Orgtel: Job Title: Business Analyst Rate: £300 - £350 per...

Day In a Page

Backhanders, bribery and abuses of power have soared in China as economy surges

Bribery and abuses of power soar in China

The bribery is fuelled by the surge in China's economy but the rules of corruption are subtle and unspoken, finds Evan Osnos, as he learns the dark arts from a master
Commonwealth Games 2014: Highland terriers stole the show at the opening ceremony

Highland terriers steal the show at opening ceremony

Gillian Orr explores why a dog loved by film stars and presidents is finally having its day
German art world rocked as artists use renowned fat sculpture to distil schnapps

Brewing the fat from artwork angers widow of sculptor

Part of Joseph Beuys' 1982 sculpture 'Fettecke' used to distil schnapps
BBC's The Secret History of Our Streets reveals a fascinating window into Britain's past

BBC takes viewers back down memory lane

The Secret History of Our Streets, which returns with three films looking at Scottish streets, is the inverse of Benefits Street - delivering warmth instead of cynicism
Joe, film review: Nicolas Cage delivers an astonishing performance in low budget drama

Nicolas Cage shines in low-budget drama Joe

Cage plays an ex-con in David Gordon Green's independent drama, which has been adapted from a novel by Larry Brown
How to make your own gourmet ice lollies, granitas, slushy cocktails and frozen yoghurt

Make your own ice lollies and frozen yoghurt

Think outside the cool box for this summer's tempting frozen treats
Ford Fiesta is UK's most popular car of all-time, with sales topping 4.1 million since 1976

Fiesta is UK's most popular car of all-time

Sales have topped 4.1 million since 1976. To celebrate this milestone, four Independent writers recall their Fiestas with pride
10 best reed diffusers

Heaven scent: 10 best reed diffusers

Keep your rooms smelling summery and fresh with one of these subtle but distinctive home fragrances that’ll last you months
Commonwealth Games 2014: Female boxers set to compete for first time

Female boxers set to compete at Commonwealth Games for first time

There’s no favourites and with no headguards anything could happen
Five things we’ve learned so far about Manchester United under Louis van Gaal

Five things we’ve learned so far about United under Van Gaal

It’s impossible to avoid the impression that the Dutch manager is playing to the gallery a little
Screwing your way to the top? Good for Lana Del Rey for helping kill that myth

Screwing your way to the top?

Good for Lana Del Rey for helping kill that myth, says Grace Dent
Will the young Britons fighting in Syria be allowed to return home and resume their lives?

Will Britons fighting in Syria be able to resume their lives?

Tony Blair's Terrorism Act 2006 has made it an offence to take part in military action abroad with a "political, ideological, religious or racial motive"
Beyoncé poses as Rosie the Riveter, the wartime poster girl who became a feminist pin-up

Beyoncé poses as Rosie the Riveter

The wartime poster girl became the ultimate American symbol of female empowerment
The quest to find the perfect pair of earphones: Are custom, 3D printed earbuds the solution?

The quest to find the perfect pair of earphones

Earphones don't fit properly, offer mediocre audio quality and can even be painful. So the quest to design the perfect pair is music to Seth Stevenson's ears
US Army's shooting star: Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform

Meet the US Army's shooting star

Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform