Armstrong Sells Austin Home
Facing several multimillion-dollar suits
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Lance Armstrong sold his 1.7-acre Austin home to an oil and gas agent, according to paperwork filed in Travis County, Texas last week. Al Koehler, a founder of Royalty Clearinghouse, said he paid nowhere near the listed value of $10 million for the 7,850-square-foot house, where Armstrong had lived since 2004.
“I’m glad this house stayed with a loyal Austinite,” Koehler told the Austin American-Statesman in an email. “We can do a lot of good for the city of Austin with this home.”
Armstrong is currently facing several civil suits stemming from his January confession that he doped during his competitive cycling career. The biggest of these is a whistle-blower case filed by Armstrong’s former teammate Floyd Landis, which could seek as much as $90 million in damages. Armstrong’s lawyers are also fighting a $12 million suit from SCA Promotions, which paid millions of dollars worth of bonuses to Armstrong for his Tour victories.