America
Cyclist Armstrong to pay $10 mn in damages
New York, Feb 17
Former American cyclist Lance
Armstrong must pay $10 million in damages after losing a lawsuit with
insurance firm SCA Promotions Inc.
In relation to his seven Tour
de France victories, the cyclist had received $7.5 million in payment
from SCA in 2006. Much later, Armstrong admitted to doping and was found
to have lied in proceedings, following which his victories were
stripped off, reports the BBC.
"The award, which must be paid
directly to SCA, is believed to be the largest award of sanctions
assessed against an individual in American judicial history," SCA said.
After
Armstrong’s sixth Tour de France win in 2004, SCA at first refused to
pay the bonus. The former dragged the company to an arbitration hearing
in Dallas in 2005 and won because the contract between the parties
stipulated that the insurance money would be payable if Armstrong was
the "official winner" of the Tour.
He was awarded $2.5 million dollars in damages and costs.
"SCA's
dispute with Armstrong is not over. It has a currently pending lawsuit
in Dallas state district court where it is pursuing additional claims
against Lance Armstrong and Bill Stapleton (Armstrong's agent)," said
the firm.
In 2012, Armstrong was stripped off all his seven Tour
de France titles and issued a life ban by the United States Anti-Doping
Agency. The Texan was accused of being part of the "most sophisticated,
professionalised and successful doping programme" that sport had ever
known.
"It is hard to describe how much harm Lance Armstrong's
web of lies caused SCA but this is a good first start towards repairing
that damage," said Bob Hamman, SCA Promotions president and founder.
Jeff Tillotson, SCA's promotions lawyer, added: "This record-breaking award was justified given Armstrong's outrageous conduct."