| 10/17/2001 | Mad Dogg Athletics and Johnny G, owners of the Spinning indoor cycling program, the Johnny G Spinner bike and the associated trademarks, today announced that their six-year relationship with Schwinn has ended. "Schwinn's financial and management difficulties -- and subsequent bankruptcy -- have strained our business agreement and limited facilities' ability to procure bikes and parts for months now, which is unacceptable," says John Baudhuin, president and CEO of MDA. "Terminating our contract enables us to get back to the business of providing training and bikes to facilities, both here and overseas."
Schwinn had been an MDA licensee for the patented Johnny G Spinner bike since 1995. During that time, the Spinner models have achieved dominance in the indoor cycling market. "We know we have the best stationary bike on the market and we don't want facilities to lose faith in the Spinning program or opt to purchase a different bike because they have no choice."
MDA will continue producing the Spinner bike and expects to be able to start delivering new bikes within the next eight to ten weeks. In addition to securing a ready supply of bikes and parts, MDA expects to make numerous design changes in the coming months to enhance the bike's already excellent quality. Facilities that are looking for bikes or that have had problems obtaining bikes or parts should contact MDA immediately. "We will be honoring all existing orders and licensing agreements," says Baudhuin.www.spinning.com
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