Click the Like button to get updates directly in your Facebook feed

Lance's Bank Account May Come Clean Before He Does

Armstrong sells $3.9M house to pay legal bills, make up lost income


It's been a humiliating couple weeks for ol’ Lance.

First he's forced to withdraw from a Masters swim meet after trying to sneak around his lifetime competition ban. Then he sells his 7,800 square-foot, $3.9 million Austin home to pay legal bills.

This is the same home, reports USA Today, he told his kids they’d get to live in until they graduated high school. “I promise. Dad's not moving again,” he told Architectural Digest in 2008.

But the real story here is that, while Armstrong’s fall from grace is far from over, his money troubles are just beginning.

According to USA Today’s tally, Armstrong is potentially liable for a combined $110 million from at least six lawsuits. And that doesn’t count his lawyers’ fees.

Among those suits:

• A Dallas promotions company is seeking repayment of $12 million in Tour de France bonuses.

• A Nebraska insurance company is suing for another $3 million in Tour winnings.

• A whistleblower suit by Floyd Landis and the U.S. Government is seeking up to $90 million in damages from Armstrong for defrauding the government while riding on the USPS-sponsored team.

During his now-infamous interview with Oprah, Armstrong admitted to losing $75 million in endorsements in a single day.

Looks like he stands to lose a bit more.

Via USA Today.

Comment on this story


0
3
15 Ratings
xxxxxxx
Related Searches
Like this story? Get the Active Times Updates
Get The Active Times in your inbox


Today on The Active Times
The Active Times Video Network
Citi Bike Shapes Up NYC
How New Yorkers use Citi Bike: Roll through a hurricane, save a buck and get fit on their daily commute.

Comment on This Story