Greg LeMond and Trek Bicycles announced Monday that they've settled their differences out of court.

The lawsuit-countersuit regarded breach of contract allegations involving LeMond's line of bicycles marketed by Trek.

After a preliminary hearing a few months ago, it looked like the case may be headed for a high-profile trial that would involve Lance Armstrong and testimony about doping allegations.

I don't think many in the bike industry were looking forward to that, especially Trek and Armstrong. LeMond, however, has shown that he's willing to let the chips fall where they may.

Instead, Trek and LeMond agreed to end their business venture, and Trek agreed to donate $200,000 to LeMond's foundation -- 1in6.org -- which helps adult victims of childhood sexual abuse.

If there was any other pay-out, it wasn't made public in the joint-settlement release.

Business venture

Trek and LeMond joined forces in 1995 to market bicycles under the LeMond name.

Everything was fine until LeMond was quoted making statements regarding the relationship of Armstrong and an Italian doctor accused of helping cyclists improve their performance through doping.

One of LeMond's assertions had been that Armstrong wanted Trek president John Burke to coerce LeMond into retracting those statements. LeMond has held his ground regarding doping and cycling over the years, and he charged that Trek stopped supporting his brand.

Trek countersued that LeMond's business practices had hurt dealers who tried to sell his bikes.

The statement reads:

Cycling legend Greg LeMond and Trek Bicycle Corporation announced an agreement to close out all remaining issues for the business venture they began in 1995, and to provide funding for a charity near to Greg's heart.

"Greg has a hard-won place in the Pantheon of bicycle racing, and we are proud of what we were able to accomplish together," said Trek's President John Burke. "Trek respects Greg's efforts and commitment to the charitable foundation. 1in6.org, and Trek is pleased to lend its support to that very worthwhile endeavor."

Three-time Tour de France winner LeMond said: "I'm pleased to resolve the issues between Trek and myself and am happy to be able to move forward with the things important in my life. I appreciate Trek's support for the work in 1in6.org. I take deep satisfaction in this resolution and believe it will have a positive impact on those that can benefit most from the purpose of 1in6.org."

LeMond started the 1in6.org foundation after he revealed during the Floyd Landis administrative hearing that he'd had been abused as a child by a family acquaintance. That came out in testimony about witness tampering by the Landis camp.

LeMond's attorney said that he fully expects his client to bring the LeMond brand back into production.

More coverage at ESPN, New York Daily News and VeloNews.