Company that paid Lance Armstrong bonuses wants money back

[marmar]

AUSTIN, Texas (Reuters) - A Texas promotional company that paid millions of dollars to Lance Armstrong for winning the Tour de France said on Monday it was considering legal action to get the money back after the American cyclist was stripped of his Tour titles.

Armstrong had his seven Tour de France victories nullified and was banned for life on Monday after the International Cycling Union (UCI) ratified the United States Anti-Doping Agency's (USADA) sanctions against him.

Dallas-based SCA Promotions paid Armstrong $7.5 million for winning his sixth Tour title in 2004 - $5 million as a performance bonus and $2.5 million in interest and attorney fees - as part of a 2006 legal settlement. Armstrong had sued SCA when it withheld the payment after doping allegations against him surfaced.

Tailwind Sports, the owner of Armstrong's U.S. Postal team, had promised the cyclist a $5 million bonus if he won a sixth Tour title and it took out insurance coverage with SCA. .....................(more)

The complete piece is at: http://news.yahoo.com/company-paid-lance-armstrong-bonuses-wants-money-back-004211160--spt.html

[graham4anything]

1. I would want my money back from that fraud too

[morningglory]

2. How about the penniless US Postal Service, or whatever it is? NT

[PowerToThePeople]

3. Can we get our $ back from the Iraq war?