Lance Armstrong loses $10 million arbitration ruling
AUSTIN, TX - A three-man arbitration panel has ordered Lance Armstrong and Tailwind Sports to pay $10 million in a fraud dispute with a promotions company.
Dallas-based SCA Promotions announced the 2-1 ruling against the former cyclist on Monday when it asked a Texas state court to confirm the arbitration decision.
SCA paid Armstrong about $12 million in bonuses during his career, when he won seven Tour de France titles. Those victories were stripped away after Armstrong and his U.S. Postal Service teams were found to have used performance-enhancing drugs.
SCA disputed bonuses in arbitration in 2005, and the case produced the foundation of the doping evidence that was used against him. After Armstrong's cheating was exposed, SCA sued to get its money back.
Armstrong's attorney, Tim Herman, declined comment.