In the summer of 2012, Lence Edward Armstrong (born Gunderson) was charged with using prohibited substances by the US Anti-Doping Agency (USADA). According to this organisation, the athlete, who, by the way, had won the Tour de France race (annual competition) seven times, resorted to this illegal practice to boost his performance. Lance Armstrong had the greatest career in cycling. He actively participated in professional championships until the middle of 2000. Then he attempted to return to the professional arena, but in the end, he focused on charity.
Lance Armstrong Admitting Using Steroids
At first, Lance persistently didn’t admit connection with steroids or other drugs. But the pressure on him was enormous. Staying under the attacks of multiple media outlets, USADA (US Anti-doping agency) and former colleagues for several months, the athlete made a statement at the Oprah Winfrey show.
He said that like for a number of other sportsmen it was too late for him to admit his involvement in banned drug use. He depicted the whole situation as one big lie, which he had repeated many times. The star athlete noted that the system of US Postal cyclists’ doping use was undoubtedly professional. He added he wasn’t offended at people’s saying that Armstrong had disrespected the “Tour de France”, the yellow jersey (Maillot jaune), the sport itself.
Did he use EPO (erythropoietin/hemopoietin)? Testosterone drugs? Cortisone (corticosteroid)? Human growth hormone? Prohibited blood transfusions & other doping? Unfortunately, the former sportsman answered “yes” on all counts, according to CNN news, which disappointed many fans.
Delayed confession had a great effect, but legally it was not a key fact for Lance. He realized that this epochal interview ruined his reputation. The International Union of Cyclists resorted to considerable sanctions: deprivation of all wins at the Tour de France (1999-2005) and the huge prize money. The International Olympic Committee claimed to return the bronze medal, which the cyclist had won in Sydney (200). Armstrong’s sponsors began filing lawsuits with the demand to recover damages.
How Much Money did Armstrong Lose Because of Steroids?
The former star lost thousands of dollars. There are three categories of these funds:
- Loss of expected gain. It refers to the pending fees he would have earned if the contracts hadn’t been severed unilaterally by his sponsors. Experts estimate the lost profit of $ 150 million due to breaking relations with such companies as Nike (a world-famous sportswear brand), Trek (Lance rode their bicycles), a brewing company Anheuser-Busch, and Luxottica (glasses manufacturer). The biggest loss was the severance of cooperation with Nike. This corporation is sometimes loyal to the athletes (remember disqualified Maria Sharapova), but it didn’t tolerate the scandalous incident with Armstrong.
- Actual losses. This is real money, which had to be paid, including damages in accordance with the courts’ decisions the prize sums that Lance previously received. We will only tell you about the amounts claimed by the plaintiffs in the trial, since the information, related to the quantity, personalities (to whom he paid and who helped him) is obscured. The Tour de France head managers counted 3 prize million dollars (Armstrong’s money and the team’s reward). SCA Promotions Company, which insured sponsorship to Lance, filed a claim and won $ 10 millions. The Sunday Times’ leaders also bethought the bicyclist and he reacted in an expected manner. In 2004, he sued media representatives for their accusations. The Magazine had to apologize and recompense almost one million euros (with the total litigation costs). After the journalists’ allegations turned out to be veridical, the organisation started to fight for an even larger sum.
- Potential forfeitures. At the moment, some litigations aren’t completed, and in case of bad deals, Lance’s chances to become a bankrupt are high. The worst suit is a joint one from Floyd Landis (former partner for US Postal) and the American government. The action began in November 2017, and the champion faces a fine amounting to 96.8 million dollars. Now, Lance doesn’t possess much money. The US government claims the athlete, engaged in fraud against the US Postal Service (the title team’s sponsor), caused damage to the whole country’s reputation. The jury will assess the true detriment.
Lance Armstrong’s other Losses due to Steroids
Except money, the former cyclist has lost:
- about 10 positions in numerous public institutions;
- the opportunity to title various brands with his name;
- the capability to organize and become a member of any sports event where the USADA inspection is conducted;
- the Order of the Legion of Honor (the most respected France award), which he received in 2005;
- the right to manage a charitable foundation, aimed to combat cancer (Lance considers it the saddest loss).
Back in 1996, specialists detected a neglected form of scrotal cancer in the cyclist. The metastasis was found in the lungs, the abdominal cavity, the brain. Doctors said that the percentage of survival was 50/50. Lance had two surgeries, chemotherapy. The rider desperately believed in his returning to the big sport. “Even if I leave this world, let them remember me,” he repeated heroically. Indeed, he is a hero. Less than half a month after treatment Lance started training, he rode 30 kilometers on the bicycle. And 4 months after the therapy, he completely got rid of cancer cells. In the late 90s, the rider founded The Lance Armstrong Foundation, which became recognizable, thanks to the special attribute-yellow bracelets. After steroid scandal, Lance was removed from the post of charity head and many sponsors refused to renew the relationships with the Foundation, which no longer was named in honor of its creator.
Lance Armstrong’s Life Now
Many people stopped talking with Lance, but he isn’t an absolute outcast. There are no obvious problems with money in Armstrong’s family today. The Armstrongs have a business, namely a cafe and a bicycle shop. His page in Instagram (@lancearmstrong) has over 260k followers. In 2017, Lance got married to Anne Hansen with whom he had been going out for many years. The couple has five children, three of whom are from Armstrong’s first wife, and two from Hansen.