In the summer of 2012, the US Anti-Doping Agency (USADA) accused Lance Armstrong, the seven-time winner of the Tour de France and one of the world’s most famous athletes, of using banned drugs to improve his sports results, which is illegal practice. Lance Armstrong had the greatest career in cycling. He actively participated in professional competitions 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 did not admit using steroids or other doping drugs. But the pressure on him was enormous. Having been under the attacks of USADA, former colleagues, and multiple media outlets for several months, the athlete made a statement at the Oprah Winfrey show:

“To begin with, it’s too late to admit. It’s too late for many people, and this is my problem. I view this situation as one big lie, which I repeated many times. As for the systematic use of doping in US Postal, this system was indeed professional. People will say that Armstrong disrespected the “Tour de France”, the yellow jersey, the sport itself. They will be right. ”

Did he use EPO (erythropoietin)? Testosterone drugs? Cortisone (corticosteroid)? Human growth hormone? Illegal blood transfusions & other blood doping? Unfortunately, the former sportsman answered “yes” on all counts, according to CNN news.

Delayed confession had a great effect, but legally it was not a key fact for Lance. He realized that his reputation was ruined before this epoch-making interview. The International Union of Cyclists took from the American all seven wins at the Tour de France (1999-2005) and recalled the huge prize Money. The International Olympic Committee demanded the return of the bronze medal of the 2000 Games in Sydney, and the sponsors of Armstrong began filing lawsuits with courts to recover damages.

How much money did Armstrong lose due to steroids?

The former cyclist lost a huge amount of money. These funds can be divided into three categories:

1) Loss of expected gain. It refers to the fees that he would have earned if his sponsors had not severed the contracts unilaterally. Experts estimate the lost profit of $ 150 million, which was lost due to breaking relations with such companies as Nike (a world-famous brand), Trek (Lance rode bicycles made by this company), Anheuser-Busch (a brewing company), and Luxottica (a glasses manufacturer). The biggest loss was the severance of cooperation with Nike, although this company can sometimes show loyalty to the athletes, as was the case with the disqualified Maria Sharapova. However, Nike did not tolerate the scandalous incident with Armstrong.

2) Actual losses. This is real money, which had to be paid. They included damages in accordance with the decisions of the courts and the prize money that Lance previously received. We will only tell you about the amounts claimed by the plaintiffs in the courts. How much, to whom and with whose help Lance paid, in fact, is unknown. The Tour de France management counted 3 million dollars in prize money, which included Armstrong’s money and the reward to the team. SCA Promotions Company, which insured sponsorship to Lance several years in a row, filed a $ 10 million claim and won. The leaders of the Sunday Times also remembered the bicyclist. In 2004, the American sued journalists for accusations of doping. The Sunday Times had to apologize and pay the athlete about half a million euros in compensation, and the total litigation costs amounted to almost one million euros. After the newspaper’s allegations turned out to be truthful, the Sunday Times sued Lance for an even larger sum of money.

3) Potential losses. At the moment, not all lawsuits have been completed, and in case of unsuccessful deals, Lance risks becoming bankrupt. The worst suit is a joint suit from Floyd Landis (formerly Armstrong’s partner for US Postal) and the US government. The trial began in November 2017, and Lance faces a fine of up to 96.8 million dollars. Now, Lance does not have that much money. According to the US government, the doping athlete, engaged in fraud against the US Postal Service (the title sponsor of the team), caused damage to the image of the whole country. The jury will assess the real damage.

Lance Armstrong’s other losses due to steroid drugs use

Lance has lost not just money. Here is a list of what else the former cyclist has lost:

• about 10 positions in various public organizations;
• the ability to use his name as a brand;
• the right to participate or organize any sports event where the USADA is conducted;
• the highest award of France – the Order of the Legion of Honor, which he has owned since 2005;
• the right to manage a charitable foundation to fight cancer (this is the saddest loss according to Lance himself).

Back in 1996, doctors diagnosed Armstrong with scrotal cancer in a neglected form. The tumor has already spread to the lungs, the brain, the abdominal cavity. One of the specialists said that in such cases no more than half of the patients survived. Lance underwent two operations, radiation and chemotherapy. Despite all this, the rider did not lose hope of returning to the sport. “Even if I die, let them remember me,” he said. Armstrong was a fighter. Two weeks after treatment Lance sat on a bicycle and rode about 30 kilometers. And four months after the end of the treatment, the doctors reported that the athlete’s body no longer had cancer cells. In the late 90’s, Armstrong created The Lance Armstrong Foundation, which became recognizable, among other things, thanks to the yellow bracelets. After steroid scandal, Lance was removed from the post of charity head, his name was removed from the title, and many sponsors did not renew the contracts with that organization because of the scandal.

Lance Armstrong’s life now

Many people stopped talking with Lance, but he did not turn into an absolute outcast. There are no obvious problems with money in Armstrong’s family now. The money that he owes is a sufficient sum to pay for claims. Besides, the Armstrongs have a business, namely a cafe and a bicycle shop. Also in 2017, Lance proposed 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.