Lance Armstrong and SCA Promotions, a prize-insurer company, reached an undisclosed settlement over the weekend, ending a legal battle that鈥檚 been waging since 2004, .听
More than ten years ago, SCA聽Promotions refused to pay Armstrong a $5 million bonus for his 2004 Tour聽de聽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.听
After Armstrong confessed to doping, SCA Promotions launched another lawsuit.听An arbitration panel ruled in February that Armstrong must pay the company $10 million for lying under oath.
鈥淧erjury must never be profitable,鈥澛爐he majority wrote.听
Armstrong initially said he would refuse to pay the sanctions but has since agreed to an undisclosed settlement.
鈥淲hile the terms of the settlement are confidential, I can say that the settlement was mutually acceptable to all parties,鈥澛燗rmstrong said in a statement to USA Today. 鈥淚 am pleased to have this matter behind me, and I look forward to moving on.鈥
The settlement came just days after the聽Program, which follows the rise and fall of Armstrong and includes his dispute with SCA Promotions, premiered at the Toronto Film Festival.听
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.