Lance Armstrong Loses Arbitration Ordered to Pay $10M

The financial dominoes continue to fall for Lance Armstrong, this time taking a Texas-sized chunk from the disgraced cyclist’s bank account.

The seven-time Tour de France champion, who was stripped of his cycling titles, has been ordered by a Texas court to pay $10 million in a fraud dispute with a promotions company.

The three-person arbitration panel announced a 2-1 decision in favor of Dallas-based SCA Promotions on Monday. SCA Promotions paid Armstrong over $12M in bonuses throughout his career, but sued once proof of performance-enhancing drug use by Armstrong and his USPS cycling team was confirmed.


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