Frank
02-14-2005, 11:52 PM
LeMond Wins $3.5 Million In Licensing Lawsuit
FEBRUARY 07, 2005 -- MEDINA, MN (BRAIN)--Greg LeMond on Friday won $3.46 million in a lawsuit against accessory manufacturer PTI Holding, which dropped his name from its line of branded helmets, locks and other products.
PTI Holdings had a 10-year contract with LeMond, but quit using his name on products in 2002 after company officials decided the three-time Tour de France winner's name no longer held the cache it once did, according to Minnesota newspaper the Star Tribune.
A federal jury reached the $3.46 million figure based on an estimate of lost royalties, LeMond's attorney, Bill Pentelovitch, told the Star Tribune.
Target sold the LeMond-branded PTI accessories. LeMond sued PTI in 2003 for breach of contract.
FEBRUARY 07, 2005 -- MEDINA, MN (BRAIN)--Greg LeMond on Friday won $3.46 million in a lawsuit against accessory manufacturer PTI Holding, which dropped his name from its line of branded helmets, locks and other products.
PTI Holdings had a 10-year contract with LeMond, but quit using his name on products in 2002 after company officials decided the three-time Tour de France winner's name no longer held the cache it once did, according to Minnesota newspaper the Star Tribune.
A federal jury reached the $3.46 million figure based on an estimate of lost royalties, LeMond's attorney, Bill Pentelovitch, told the Star Tribune.
Target sold the LeMond-branded PTI accessories. LeMond sued PTI in 2003 for breach of contract.