Millionaire Lance Armstrong Lost 7 Figure Amount After His Infamous Doping Controversy

The Cycling legend, Lance Armstrong, has probably faced one of the worst tragedies in sports history. When he pleaded guilty to the doping charges, it was not just his Tour de France titles that he lost. He lost almost everything. His stardom, fame, trust of millions of fans, and most prominently, he lost a big chunk of money.

From 1999 to 2005, Lance Armstrong won seven consecutive Tour de France titles, making him one of the greatest cyclists. However, when he was found guilty of doping during the competition, it resulted in the stripping of his titles. So even though he won seven titles during his cycling career, basically none of them counts now.

How much money did Lance Armstrong lose in the lawsuit against the federal government?

Well, probably money wasn’t the most important thing he lost, but it still is to count as a significant consequence of his actions. Though he was lucky that the lawsuit by the federal government, which might have gone to $100 million in damages, got settled for just $5 million.

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After the settlement, Armstrong said, “While I believe that their lawsuit against me was meritless and unfair, and while I am spending a lot of money to resolve it, I have since 2013 tried to take full responsibility for my mistakes and inappropriate conduct, and make amends wherever possible.”

He added, “I rode my heart out for the Postal cycling team, and was always especially proud to wear the red, white and blue eagle on my chest when competing in the Tour de France. Those memories are very real and mean a lot to me.”

How much money did he lose in the endorsements?

Lance Armstrong also faced backlash from his sponsors, who pulled out of deals due to the controversy. As a result of the doping controversy, Lance Armstrong also lost some valuable sponsorship deals. Furthermore, he was forced, to pay more than $20 million in damages to the companies he had endorsement deals with.

Life is so unpredictable. For a very long period of time, he was a cycling superstar. And then one incident and everything turned upside down for the once cycling legend.

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