Armstrong has not revealed how much he has paid SCA as part of the settlement.
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“I’m pleased to have this matter behind me and I look forward to moving on”, Armstrong said on the issue.
Armstrong still faces a federal whistleblower lawsuit in which the federal government is seeking repayment of more than $30 million the U.S. Postal Service paid to sponsor his teams from 1998-2004. Armstrong and company officials have not disclosed the details of the deal.
Lance Armstrong, who, technically, did not win anything.
“SCA’s failure to pay the final installment of its policy is a shameful and baseless breach of contract”, the ad said in 2004.
Armstrong sued and the case went to arbitration in Texas.
“I race the bike straight up, fair and square”, he testified. Hamman lost. SCA Promotions had to pay Armstrong the $5m bonus and an additional $2.5m in costs.
Armstrong later confessed to doping and has been deluged with litigation ever since, but now has one less legal hill to climb. He has been banned from sports and his Tour de France titles were invalidated.
After years of lying about it and fighting those who questioned it, Armstrong finally admitted to doping in a televised interview with Oprah Winfrey in January 2013.
In May Armstrong’s attorneys tried to get the judge to vacate the panel’s decision, insisting that it “effectively eviscerated a fully negotiated and binding settlement agreement” made between SCA and Armstrong in 2006.
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But two and a half years later, the parties have chose to end the race, just in time for the United Kingdom release of Stephen Frears’ movie The Program starring Ben Foster as Armstrong. A recent trailer promoting the film shows Hoffman portraying Hamman, the company’s founder.
