Lance armstrong must continue to pay for his doping past. Just one day before the ex-professional cyclist had to swear an oath in austin/texas, armstrong reached an agreement with the acceptance insurance company.
The insurance company had demanded back from armstrong three million dollars in performance bonuses it had paid him between 1999 and 2001. Lawyers for both parties unanimously said the case had been resolved to mutual satisfaction. Details were not disclosed.
But that was just another stage in armstrong’s marathon legal battle after his doping part confession, which could push the 42-year-old to the edge of his financial limits. In august of this year, he had already settled a lawsuit for damages with the british newspaper "sunday times," which wanted 1.2 million euros in restitution. Insurance company SCA promotions demands $12 million from former cycling idol who was banned for life. Armstrong had denied doping under oath in 2005 and collected seven million dollars from the insurance company after his seventh tour de france victory in a row.
It gets even worse for armstrong in the upcoming whistleblower trial brought on by his former teammate floyd landis. With the U.S. Government as an opponent, the former serial winner and PR magnet could face a 100 million fine if convicted. This is about the jerk claims from armstrong’s time at the taxpayer-funded state corporation US postal (1998-2004).
If armstrong is found guilty, doper landis, who confessed even after years of denial, would also collect as an informant – up to 25 percent of the damage award. Its doping trials had almost ruined the 2006 tour winner, who was subsequently disqualified, financially.
Similar could now bleed its former and once untouchable team captain. The legal aftermath of his career, which was labeled "lug and trug," could significantly shrink the texan’s fortune. The size of his account was estimated by "forbes" magazine last year at around 125 million dollars.
Armstrong has openly admitted to doping and vaguely made further confessions in a "daily mail" interview this week, but has so far not testified under oath about his offenses.