Lance Armstrong and SCA Promotions, a prize-insurer company, reached an undisclosed settlement over the weekend, ending a legal battle that’s been waging since 2004, according to USA Today.
More than ten years ago, SCA Promotions refused to pay Armstrong a $5 million bonus for his 2004 Tour de France victory, arguing that the win was not clean. Armstrong fought the lawsuit, claiming he did not use performance-enhancing drugs, and was awarded an additional $2.5 million on top of the $5 million bonus.
After Armstrong confessed to doping, SCA Promotions launched another lawsuit. An arbitration panel ruled in February that Armstrong must pay the company $10 million for lying under oath.
“Perjury must never be profitable,” the majority wrote.
Armstrong initially said he would refuse to pay the sanctions but has since agreed to an undisclosed settlement.
“While the terms of the settlement are confidential, I can say that the settlement was mutually acceptable to all parties,” Armstrong said in a statement to USA Today. “I am pleased to have this matter behind me, and I look forward to moving on.”
The settlement came just days after the Program, which follows the rise and fall of Armstrong and includes his dispute with SCA Promotions, premiered at the Toronto Film Festival.
A whistleblower lawsuit brought against Armstrong by former teammate Floyd Landis and joined by the federal government remains ongoing. Armstrong faces penalties in the $100 million range.