The hits keep coming
Lances Armstrong has been ordered to pay back $10 million to a sports insurance company after a filing against him in Texas today.
The cyclist was stripped of his seven Tour de France titles in 2013 in 2013. SCA Promotions, who had paid out the bulk of the $10m in bonuses to the American for his wins at Le Tour, then sued.
The ruling came from an arbitration panel in Texas, who decided two-to-one against the Texan. The dispute dates back to 2004 when the company refused to pay out its final installment of a multi-million dollar bonus payment to Armstrong.
SCA president Bob Hamman declared, ‘We are very pleased with this result. It is hard to describe how much harm Lance Armstrong’s web of lies caused SCA but this is a good first start towards repairing that damage.’
The $10m is, according to SCA, the largest award of sanctions assessed against an individual in American judicial history.
Armstrong is currently defending himself against the United States’ federal government. If unsuccessful in this defence, USA Today reports, he could be on the liability hook for $100m.
