The American basketball star LeBron James acquires a minority stake in the Koblenz-based bicycle manufacturer Canyon Bicycles via an investment company.

The basketball star should use his fame to help drive Canyon's growth in the United States, Canyon's majority owner GBL announced on Friday.

The 37-year-old is one of the superstars of the US basketball league NBA and plays for the Los Angeles Lakers.

Canyon, with around 1,400 employees worldwide and sales of 416 million euros in 2020, manufactures racing bikes, triathlon bikes, mountain bikes and e-bikes, among other things.

The manufacturer is heavily involved in professional sports and works with athletes such as racing cyclist Mathieu van der Poel and triathlete Jan Frodeno.

Canyon also sells bikes to private customers through direct sales.

Company founder Roman Arnold is also a shareholder of the Koblenz manufacturer.

LeBron James' move came through LRMR Ventures, a company owned by James and his business partner Maverick Carter together with US financial investor SC Holdings.

The Belgian investment company GBL joined the wheel manufacturer at the end of 2020.

According to Canyon, the investment by the new financiers amounts to a total of around 30 million euros.

James had also bought shares in Fenway Sports Group with Carter with LRMR last year, becoming a co-owner of Liverpool FC football club.