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View Winners → Armstrong Ordered to Pay $10 Million to Promotions Co.
Pasadena Independent Feb 20, 2015
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Cyclist Lance Armstrong has been ordered to pay $10 million Monday to a promotions company after an arbitration panel found he conducted an “unparalleled pageant of international perjury, fraud and conspiracy” against the company.
According to USA Today, the three-man arbitration panel ruled 2-1 in favor of SCA Promotions in its decision against Armstrong and Tailwind Sports Corp., a former co-owner for two of Armstrong’s teams.
SCA Promotions paid Armstrong about $12 million during his career. After the U.S. Anti-Doping Agency found Armstrong used performance-enhancing drugs throughout his career, the Dallas-based company sued him for fraud.
Armstrong had originally refused to pay. The case went to arbitration. During the arbitration hearing, Armstrong claimed he never used performance-enhancing drugs. SCA Promotions eventually settled the case, paying out $7.5 million.
Armstrong was stripped of his seven Tour de France titles and given a lifetime ban from competitive cycling in 2012. He admitted to using drugs during a 2013 interview with Oprah Winfrey.
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