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Lance Armstrong Pays $10M Settlement to SCA Promotions, Repays Bonuses Received for TdF Wins

by pedalmag.com
Lance Armstrong [P] Cor Vos
September 29, 2015 – Lance Armstrong has finally settled a long-running lawsuit with Dallas, Texas-based insurance company SCA Promotions, paying $10 million, in repayment of bonuses he received from the company for three of his seven Tour de France victories. SCA Promotions paid Armstrong more than $10 Million, but agreed to the number in what was a “mutually acceptable” agreement to both parties, according to an article on Reuters.com.

SCA Promotions argued that is was entitled to the repayment, as Armstrong’s “accomplishments were tainted and built on lies,” according to the article. Read the full story here.

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