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.

News
newsGlobal index has ranked the quality of life for OAPs - but the UK didn't even make it into the top 10
News
people

Kirstie Allsopp has waded into the female fertility debate again

Sport
footballArsenal 4 Galatasaray 1: Wenger celebrates 18th anniversary in style
News
people
PROMOTED VIDEO
News
people
News
peopleStella McCartney apologises over controversial Instagram picture
News
Gillian Anderson was paid less than her male co-star David Duchovny for three years while she was in the The X-Files until she protested and was given the same salary
people

Gillian Anderson lays into gender disparity in Hollywood

Life and Style
Laid bare: the Good2Go app ensures people have a chance to make their intentions clear about having sex
techCould Good2Go end disputes about sexual consent - without being a passion-killer?
Arts and Entertainment
Swiss guards stand in the Sistine Chapel, which is to be lit, and protected, by 7,000 LEDs
art

The Sistine Chapel is set to be illuminated with thousands of LEDs

Arts and Entertainment
Richard Burr remains the baker to beat on the Great British Bake Off
tvRichard remains the baker to beat as Chetna begins to flake
News
i100
Arts and Entertainment
Amazon has added a cautionary warning to Tom and Jerry cartoons on its streaming service
tv
News
people
News
The village was originally named Llansanffraid-ym-Mechain after the Celtic female Saint Brigit, but the name was changed 150 years ago to Llansantffraid – a decision which suggests the incorrect gender of the saint
newsA Welsh town has changed its name - and a prize if you can notice how
News
ebooksAn unforgettable anthology of contemporary reportage
Arts and Entertainment
Kristen Scott Thomas in Electra at the Old Vic
theatreReview: Kristin Scott Thomas is magnificent in a five-star performance of ‘Electra’
Life and Style
Couples who boast about their relationship have been condemned as the most annoying Facebook users
tech
Arts and Entertainment
Hayley Williams performs with Paramore in New York
musicParamore singer says 'Steal Your Girl' is itself stolen from a New Found Glory hit
News
i100
Sport
Ronaldinho signs the t-shirt of a pitch invader
footballProof they are getting bolder
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 Consultant - Birmingham - Real Staffing

£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...

Trust Accountant - Kent

NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...

Graduate Recruitment Consultant - 2013/14 Grads - No Exp Needed

£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...

Law Costs

Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...

Day In a Page

Italian couples fake UK divorce scam on an ‘industrial scale’

Welcome to Maidenhead, the divorce capital of... Italy

A look at the the legal tourists who exploited our liberal dissolution rules
Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

The vintage series has often been criticised for racial stereotyping
An app for the amorous: Could Good2Go end disputes about sexual consent - without being a passion-killer?

An app for the amorous

Could Good2Go end disputes about sexual consent - without being a passion-killer?
Llansanffraid is now Llansantffraid. Welsh town changes its name, but can you spot the difference?

Llansanffraid is now Llansantffraid

Welsh town changes its name, but can you spot the difference?
Charlotte Riley: At the peak of her powers

Charlotte Riley: At the peak of her powers

After a few early missteps with Chekhov, her acting career has taken her to Hollywood. Next up is a role in the BBC’s gangster drama ‘Peaky Blinders’
She's having a laugh: Britain's female comedians have never had it so good

She's having a laugh

Britain's female comedians have never had it so good, says stand-up Natalie Haynes
Sistine Chapel to ‘sing’ with new LED lights designed to bring Michelangelo’s masterpiece out of the shadows

Let there be light

Sistine Chapel to ‘sing’ with new LEDs designed to bring Michelangelo’s masterpiece out of the shadows
Great British Bake Off, semi-final, review: Richard remains the baker to beat

Tensions rise in Bake Off's pastry week

Richard remains the baker to beat as Chetna begins to flake
Paris Fashion Week, spring/summer 2015: Time travel fashion at Louis Vuitton in Paris

A look to the future

It's time travel fashion at Louis Vuitton in Paris
The 10 best bedspreads

The 10 best bedspreads

Before you up the tog count on your duvet, add an extra layer and a room-changing piece to your bed this autumn
Arsenal vs Galatasaray: Five things we learnt from the Emirates

Arsenal vs Galatasaray

Five things we learnt from the Gunners' Champions League victory at the Emirates
Stuart Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

This deal gives England a head-start to prepare for 2019 World Cup, says Chris Hewett
Ebola outbreak: The children orphaned by the virus – then rejected by surviving relatives over fear of infection

The children orphaned by Ebola...

... then rejected by surviving relatives over fear of infection
Pride: Are censors pandering to homophobia?

Are censors pandering to homophobia?

US film censors have ruled 'Pride' unfit for under-16s, though it contains no sex or violence
The magic of roundabouts

Lords of the rings

Just who are the Roundabout Appreciation Society?