Boulder bike shop was sold without owner’s OK, he says

The Legal Battle Over the Sale of Boulder Bicycle Stores

In a surprising turn of events, the merger and subsequent sale of two Boulder bicycle stores in 2021 and 2022 are now at the center of a legal dispute. The owner of one of the merged stores has come forward, claiming that his shop was stolen from him and sold without his permission.

Michael Stone, a visually impaired Ironman competitor and triathlete, purchased Colorado Multisport in 2010. The store had a loyal following in the high-end and professional triathlon community. On the other hand, Russ Chandler, a tech executive, acquired Full Cycle, Boulder’s oldest bike shop, in 2016.

In 2020, Stone and Chandler discussed a sale of Colorado Multisport to Chandler with dual branding at Full Cycle’s store. However, Stone alleges in a lawsuit that Chandler failed to fulfill the terms of their agreement, including making regular payments and sharing profits.

The merger of Full Cycle and Colorado Multisport was announced in early 2022, with signage reflecting both names at the store. However, behind the scenes, Stone claims that Chandler misrepresented his ownership of Colorado Multisport and unlawfully included it in the sale to Mike’s Bikes.

Stone is now suing Chandler for theft and breach of contract, seeking compensation for the value of Colorado Multisport, unpaid sale proceeds, and reputational harm. He is also requesting the Boulder District Judge to void the sale to Mike’s Bikes and confirm his ownership of the store.

Chandler has not responded to requests for comment on the lawsuit, while representatives for Mike’s Bikes and Stone’s attorneys have declined to discuss the matter.

Stone’s legal team at Michael Best & Friedrich in Denver is determined to seek justice in this complex legal battle over the ownership of Colorado Multisport.

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