How Much Has Admitting To Doping Cost Lance Armstrong?

By on January 21, 2018 in ArticlesSports News

Five years ago, Lance Armstrong spoke with Oprah Winfrey in a nationally televised interview. During the conversation, the seven-time Tour de France winner admitted that he had taken performance-enhancing drugs.

Armstrong, who was adamant that his titles – which were all vacated – were won legitimately, still hasn't recovered from the fallout of his admission. And it's cost him quite a bit of money.

According to an email to USA Today Sports, Armstrong said he's lost "in excess of 100 mil." At his peak, he was worth $200 million. Today, he's down to about $50 million – a steep drop in just half of a decade.

Within four months of his appearance on Oprah, Armstrong had lost numerous friends. On top of that, he was facing five lawsuits.

SUZANNE CORDEIRO/AFP/Getty Images

Armstrong successfully sued Irish journalist David Walsh in 2004 after he printed a story accusing Armstrong of doping. The duo had another settlement in 2013 after Armstrong's interview with Oprah. But Walsh said Armstrong never apologized to him directly.

Similarly, three-time Tour de France champ Greg LeMond accused Armstrong of doping and suggested that Armstrong had hurt his career. LeMond's bike brand had a distributor pull out amidst the allegations. LeMond and his wife believe Armstrong hasn't sufficiently apologized, either.

And Armstrong still has a major lawsuit staring him down. The U.S. government is suing him for $100 million on behalf of the U.S. Postal Service. From 2000 to 2004, the U.S. Postal Service spent $32.3 million to sponsor Armstrong's team.

Floyd Landis, who also tested positive for performance-enhancing drugs, is testifying against Armstrong and could reportedly receive up to 25 percent of the damages if the government wins its case.

The government believes it has an airtight case thanks to Armstrong's confession. And if they win, he could lose even more of his wealth – or maybe even all of it.

Articles Written by Joey Held
If there's a story anywhere in the world of music, sports, or entertainment, Joey wants to tell it. He's been freelancing since 2010, and prior to that, he attended the University of Miami, where he double majored in broadcast journalism and sport administration. A Chicago native, Joey currently resides in Austin, TX. Follow him on Twitter and Google+ and always feel free to suggest a song for his next karaoke performance.
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