Thursday, 11 June 2015

Armstrong fearing financial ruin from federal whistleblower lawsuit

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A whistleblower lawsuit filed by Floyd Landis in 2010, and joined by the US Justice Department in 2013, to be heard by a jury later this year in the United States could see Lance Armstrong lose US$100 million with his former teammate receiving one third of the damages for instigating the case. In an interview with AFP journalists at his house in Aspen, Armstrong explained he will face financial turmoil should he lose the case.

"I mean, the whistleblower case is a $100 million case. If I lost, we would not be sitting at this table anymore," Armstrong said according to AFP. "We wouldn't be sitting in this home anymore. We wouldn't be sitting in any home. I don't have $100 million.

"We like our case is all I will say. I'm not going to jinx myself. But I don't know. How do you guys see it? Say the jury says: 'Pay up $100 million.' Floyd Landis gets $33 million. Is everybody at this jury happy with that? I would think what everybody thinks — there's no logic to that."

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The suit is aimed at recouping the sponsorship funds provided by the US Postal Service, which supported the team from 1996-2004, in light of the US Anti-Doping Agency's lifetime ban of Lance Armstrong for doping. Having initially denied the use of performance enhancing drugs [PEDs] during his career, including the 2006 Tour de France which was stripped of, since 2010 Landis has publicly spoken of his PED use.

In February, Armstrong and former US Postal Service team owners Tailwind Sports were ordered to pay $10 million to SCA Promotions, the Texas firm that underwrote a $5 million bonus awarded after his 2004 Tour de France victory.

While apologising for certain behaviour during his professional career, Armstrong admitted in the interview with the AFP journalists he was "a complete dick for a long time".

You can read more at Cyclingnews.com



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