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Lance armstrong may be stripped of $12 million bonus
Lance armstrong may be stripped of $12 million bonus

Lance armstrong may be stripped of $12 million bonus

The International Cycling Union, which governs the sport, announced Monday that it would strip Lance Armstrong of his seven Tour de France titles after the the damaging U.S. Anti-Doping Agency report released this month that detailed Armstrong’s drug use in his rise to be one of the most famous and athletes on the planet.

The UCI’s president, Pat McQuaid said at a news conference in Geneva on Monday, “We’ve come too far in the fight against doping to go back to the past. Something like this must never happen again.” McQuaid added that Armstrong, “has no place in cycling.”

Dallas-based SCA Promotions paid Armstrong $7.5 million for winning his sixth Tour title in 2004, and since he has been stripped of the victories the company’s lawyer said they may consider legal action.

“Mr. Armstrong is no longer the official winner of any Tour de France races, and as a result it is inappropriate and improper for him to retain any bonus payments made by SCA,” the company’s lawyer Jeffrey Dorough said in a statement.

SCA paid Armstrong $5 million as a performance bonus. Armstrong then sued them for an additional $2.5 million in interest and attorney fees that he was awarded as part of a 2006 legal settlement.

The company asserts that they paid Armstrong around $12 million total. No one from SCA made clear just how much they may try to get back.




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