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Lance Armstrong Settles $10M Lawsuit Over Bonus Money

By Christopher Coble, Esq. on September 30, 2015 7:58 AM

Lance Armstrong won seven consecutive Tours de France and was the face of one of the most popular charities in the world. Then he admitted to doping and it turned out his charity was a sham. Since then, everyone from his team sponsors to people who bought his book has wanted their money back.

One of those seeking repayment was a promotions company that paid Armstrong prize money for his Tour victories. After being ordered to pay back the money, Armstrong has settled with the company.

Tainted Tours

SCA Promotions, Inc. was seeking $10 million based on prize money it paid Armstrong for Tour de France victories in 2002 and 2003, and a disputed payment for his 2004 win. SCA balked at paying Armstrong in 2004 when allegations of doping first became mainstream; so he sued for payment.

That 2004 case went to arbitration twice. First, in 2005, SCA was ordered to pay Armstrong $7.5 million in prize money and $2.5 million in damages and legal fees. After Armstrong confessed to doping in 2013 and had his Tour victories vacated, SCA came back for their money.

Blood (Doping) Money

Despite the 2005 arbitration decision being labeled "fully and forever binding," SCA used the U.S. Anti-Doping Agency's investigation and Armstrong's confession to open a second round of arbitration hearings. And in February, a panel in Texas ordered Armstrong to repay SCA $10 million in ill-gotten prize money.

The exact terms of this week's settlement were not disclosed, although Armstrong released an apologetic statement to the Associated Press: ''I am pleased to have this matter behind me and I look forward to moving on. I do wish to apologize to SCA and its (chief executive), Bob Hamman, for any misconduct on my part in connection with our dispute and the resulting arbitration."

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