20 Jan 2013

Texan company to sure Armstrong

4:01 pm on 20 January 2013

A Texas company plans to file a lawsuit next week to recoup 15 million dollars from disgraced cyclist Lance Armstrong.

SCA Promotions insured bonuses paid Armstrong when he claimed his fourth, fifth and sixth Tour de France wins.

The American has admitted using performance-enhancing drugs during his career.

The insurance policy was taken out by Tailwind Sports, owner of the US Postal team, to cover performance bonuses payable to Armstrong if he claimed his fourth, fifth and sixth Tour victories.

SCA initially refused to pay out money covering the bonus for Armstrong's sixth Tour win in 2004, totalling 7 million dollars, because it argued Armstrong was not a clean rider.

Armstrong took the company to an arbitration hearing in Dallas in 2005 and won, because the contract between the parties stipulated the insurance money would be payable if Armstrong was the "official winner" of the Tour.