LeMond Signs $5.5-Million Pact

American Greg LeMond, winner of this year’s Tour de France and the cycling world championship, said today that he has signed a three-year $5.5-million contract with the French Team Z cycling organization.

The contract, richest ever in cycling, was announced at a news conference by LeMond and Roger Zannier, the president of Z, a children’s clothing manufacturer. Zannier said one or more partners would join in backing the team.

“I had the possibility between 7-Eleven, Toshiba and Z. I analyzed very carefully every team,” LeMond said. “I believed that Z was the best one for me because they have the riders I need, which are climbers. I think the most important for me is to have a strong team in the Tour de France.”

Among LeMond’s new teammates are Robert Millar of Britain and French cyclists Ronan Pensec and Eric Boyer, all known as strong climbers.

“I am very happy because we now have on our team a great leader,” Zannier said. “I think we will now be a winner because we now have a great champion.”

LeMond said he made his choice about two weeks ago.

“At the world championships (Aug. 27), I made my decision that for me, my career, I believed that Z was the best,” LeMond, 28, said.

Under the contract, the entire Z team will ride on Greg LeMond-model bicycles.

LeMond said his whole salary is covered by a French bank guarantee.

Although LeMond did not give the yearly breakdown, in response to a question he said he would probably earn at least $2 million in the final year.

“I don’t want to be specific about it. I am embarrassed to talk about it,” LeMond said.

The highest previous reported salary for a cyclist was the roughly $800,000 a year provided in a contract to Ireland’s Sean Kelly.

Under the new contract, LeMond will be able to race for Coors in exhibition races in the United States but not in regular competitive events.