Armstrong's financial situation

[Cloxxki]

In fact the US is one of the poorest countries in the world if you take the debt per capita into account...

Luxemburg on the other hand is the richest per capita ;-)

I consider debt not paid back, a theft. USA is the stealingest country in the world.

 

[Cimacoppi49]

He should pay the fans for wasting years of their life watching him dominate Tours.

Amen!!! Wonder how this will impact dvd sales at World Cycling Productions.

 

[Briant_Gumble]

ESPN's documentary 'Broke' about pro athlete's going bankrupt.

Lance gets a mention at about 50 minutes for his divorce with the super hot gold digger Kristin Richards.

http://m.youtube.com/watch?v=Vh79Cz6SNiM

Pretty surprising to watch how pro athletes blow through the cash.

 

[thegripo]

In fact the US is one of the poorest countries in the world if you take the debt per capita into account...

Luxemburg on the other hand is the richest per capita ;-)

that must be why most of the world buys stock in the Luxemburg stock market, emigrate to Lux in search of the great luxemburguese dream, go study in Lux universities, etc etc etc

 

[max_powers]

Once Lance hits bottom legally and financially, he can confess, find Jesus, start a Ministry and really clean up.

Something OJ could have done as well.

 

[reginagold]

And to think, he paid so much to Kik, she promised not to say anything about anything, and now it's looking clear she can say or write anything she wants about their time together - given the confidentiality aspects of her divorce agreement looks to be money paid for silence about illegal activities. Money well spent until the dam broke.

 

[Microchip]

ESPN's documentary 'Broke' about pro athlete's going bankrupt.

Lance gets a mention at about 50 minutes for his divorce with the super hot gold digger Kristin Richards.

http://m.youtube.com/watch?v=Vh79Cz6SNiM

Pretty surprising to watch how pro athletes blow through the cash.

I missed the hour-long show about LA on CNN which was aired this week. I wonder if they'll air it again...??

Race Radio tweeted about it the night it was going to air, but I saw the tweet too late.

 

[TubularBills]

Once Lance hits bottom legally and financially, he can confess, find Jesus, start a Ministry and really clean up.

Something OJ could have done as well.

True. But a disgrace to humanity?

Legacy? Reality?

I'm off to re-watch Cancer Jesus.

I'm a believer in the shame of humanity.

~ Sir Tools & Trolls.

 

[Tyre Byter]

I missed the hour-long show about LA on CNN which was aired this week. I wonder if they'll air it again...??

Race Radio tweeted about it the night it was going to air, but I saw the tweet too late.

http://www.abc.net.au/4corners/stories/2012/10/11/3608613.htm
I think this is the same documentary shown on CNN, Microchip

 

[Microchip]

Okay thanks. Then I've seen it already.

 

[hiero2]

Nah, only the rich and shameless .........

They are 99% one and the same.

 

[hiero2]

Once Lance hits bottom legally and financially, he can confess, find Jesus, start a Ministry and really clean up.

Something OJ could have done as well.

Interesting. I was just thinking of OJ - because of thinking about the question of this thread. I do not think for a micro-second that he was anything less than guilty. And today, he has a hard time making an honest buck, as near as I can tell. LA will soon be in the same wagon, if you ask me.

 

[manafana]

Difference is Lance has an array of business interests, his fall out

lance could keep out of way in a hole now and still make money with all the interests he has built up

 

[Tinman]

Funny thing about money, is that it's not about money when you have enough of it.

For Lance, right now, and probably never will be, about money.

More about the kids. When little, can control what they think. When older than say 10, more peer pressure. When 16, finished as a parent if there is no trust.

And trust will be hard for Lance to build with his kids. Wives & girlfriends often have their own motives. Kids more basic. It's their life, no trade off's. They choose... And peers drive that choice much more so if there is no/little parental trust.

And if for Lance it's not about his kids, if he's that devious (to use them for his own cause), then money won't save him. He's destined for a miserable second half. As per OJ I suspect (although haven't followed the man since).

 

[Zweistein]

Funny thing about money, is that it's not about money when you have enough of it.

For Lance, right now, and probably never will be, about money.

More about the kids. When little, can control what they think. When older than say 10, more peer pressure. When 16, finished as a parent if there is no trust.

And trust will be hard for Lance to build with his kids. Wives & girlfriends often have their own motives. Kids more basic. It's their life, no trade off's. They choose... And peers drive that choice much more so if there is no/little parental trust.

And if for Lance it's not about his kids, if he's that devious (to use them for his own cause), then money won't save him. He's destined for a miserable second half. As per OJ I suspect (although haven't followed the man since).

Oh,please. Can you name when he has put his kids first?

 

[Tinman]

Oh,please. Can you name when he has put his kids first?

Not sure whether your question is genuine or cynical, and exactly what you mean by "put his kids first". And I don't know you (personally or from here). I will therefore be respectful and give you the benefit of the doubt...

Lance has recently come out and made lots of comments about the importance of his kids in his personal life.

There are pictures of his kids finishing a triathlon with him.

Not just a cancer jesus. A caring dad too!

 

[DirtyWorks]

Lance has recently come out and made lots of comments about the importance of his kids in his personal life.

This is the "fall back" to being unable to continue the fraud. He couldn't stay retired the first time. He will be back. It's unfortunate for everyone around him.

The man himself, I'm not sympathetic. It's wasted on him.

 

[Merckx index]

There are pictures of his kids finishing a triathlon with him.

Are you serious? The most famous picture is probably the one in which he finishes a tri and buzzes off his daughter, who wanted to congratulate him. He was so ****ed at his poor finish he had no time for her.

Back to the money. There has been a lot of speculation here that a major reason LA did not agree to talk to USADA, and confess, was because of all the lawsuits that would have opened. But I have been thinking that LA would actually have come out much better, financially, if he had confessed to USADA. AFAIK, there are major four players who might try to get money from LA: SCA, London Times, ASO and the U.S. gov.

The SCA case hinges on whether LA officially won those Tours, so a confession to doping would not affect it at all. In fact, if he had confessed to USADA, according to Tygart he could have kept some of his titles, so SCA’s claims would have been reduced. He still would have been the official winner of some, probably most, of those Tours. Same obviously with ASO’s claims that he has to refund prize money. So a confession could have reduced his risks with these players by millions.

The London Times would come after him confession or no confession, but the stakes there are considerably less than for the other potential lawsuits, probably less than a million. The U.S. we don’t know, but if he had made a deal with Tygart, part of that might have also been a deal that USADA would help him settle any issues with the feds.

But there is more. Consider the lost endorsement money, estimated in the tens of millions. Suppose LA had confessed to USADA, and had been allowed to keep maybe as many as five of his titles. In those circumstances, the “everyone did it” argument would have looked stronger. He would have been like George, Levi, et al., a confessed doper who had several years of results taken away, but not virtually his entire life’s work. In fact, I imagine that if LA had been willing to offer information to USADA, part of the deal, in addition to keeping most of his titles, would have been to downplay the “kingpin” angle, to de-emphasize the evidence that LA compelled other riders to dope.

That being the case, how do you think his sponsors would have reacted? They might still want to distance themselves from him, but would they have abruptly dropped him? Remember, this is something sponsors almost never do, they usually just let the contract run out, and not renew it. Had even some of his sponsors played it that way, a confession could have resulted in millions more income for LA (relative to his current situation).

Even if LA had seen it this way back then, I doubt he would have confessed. I think for him maintaining the lie is more important than the money--that even if he had known for sure the outcome of not confessing, he still would have played it that way. Here's something else he has in common with Sandusky: he doesn't realize that if you don't admit guilt, you can't express remorse, and without that, no forgiveness from others is possible, nor healing for yourself.

 

[Tinman]

Are you serious?

I'm polite. It's easy being a c**t in today's world.

Personally I'm not overly interested in Lance's financial being as this unwinds. I hope he ends up destitute but I doubt that strongly. I feel for his kids, and I pity him for denying his kids a trustful relationship with their father.

But thanks for outlining the financial case. Others may find it more interesting than I.

 

[MarkvW]

Are you serious? The most famous picture is probably the one in which he finishes a tri and buzzes off his daughter, who wanted to congratulate him. He was so ****ed at his poor finish he had no time for her.

Back to the money. There has been a lot of speculation here that a major reason LA did not agree to talk to USADA, and confess, was because of all the lawsuits that would have opened. But I have been thinking that LA would actually have come out much better, financially, if he had confessed to USADA. AFAIK, there are major four players who might try to get money from LA: SCA, London Times, ASO and the U.S. gov.

The SCA case hinges on whether LA officially won those Tours, so a confession to doping would not affect it at all. In fact, if he had confessed to USADA, according to Tygart he could have kept some of his titles, so SCA’s claims would have been reduced. He still would have been the official winner of some, probably most, of those Tours. Same obviously with ASO’s claims that he has to refund prize money. So a confession could have reduced his risks with these players by millions.

The London Times would come after him confession or no confession, but the stakes there are considerably less than for the other potential lawsuits, probably less than a million. The U.S. we don’t know, but if he had made a deal with Tygart, part of that might have also been a deal that USADA would help him settle any issues with the feds.

But there is more. Consider the lost endorsement money, estimated in the tens of millions. Suppose LA had confessed to USADA, and had been allowed to keep maybe as many as five of his titles. In those circumstances, the “everyone did it” argument would have looked stronger. He would have been like George, Levi, et al., a confessed doper who had several years of results taken away, but not virtually his entire life’s work. In fact, I imagine that if LA had been willing to offer information to USADA, part of the deal, in addition to keeping most of his titles, would have been to downplay the “kingpin” angle, to de-emphasize the evidence that LA compelled other riders to dope.

That being the case, how do you think his sponsors would have reacted? They might still want to distance themselves from him, but would they have abruptly dropped him? Remember, this is something sponsors almost never do, they usually just let the contract run out, and not renew it. Had even some of his sponsors played it that way, a confession could have resulted in millions more income for LA (relative to his current situation).

Even if LA had seen it this way back then, I doubt he would have confessed. I think for him maintaining the lie is more important than the money--that even if he had known for sure the outcome of not confessing, he still would have played it that way. Here's something else he has in common with Sandusky: he doesn't realize that if you don't admit guilt, you can't express remorse, and without that, no forgiveness from others is possible, nor healing for yourself.

I look at it slightly differently, but come to the same conclusion.

The evidence is rather indisputable that Lance lost his TdFs as a consequence of sporting fraud (doping). Lance can't swear otherwise without a real fear of perjury charges. If Lance can't swear otherwise, he can't defend himself in the four cases you cite. If Lance can't defend himself, what difference does it make (in a tactical sense, in the four cases you cite), whether he admits to the feds, or USADA, or whatever? I can't see that an admission hurts him any more than he's already hurt--he's already gashed to the bone.

 

[Big Daddy]

First the cancer shield. Now, the kids shield. What a f-ing low-life scumbag Armstrong is.

 

[reginagold]

I look at it slightly differently, but come to the same conclusion.

The evidence is rather indisputable that Lance lost his TdFs as a consequence of sporting fraud (doping). Lance can't swear otherwise without a real fear of perjury charges. If Lance can't swear otherwise, he can't defend himself in the four cases you cite. If Lance can't defend himself, what difference does it make (in a tactical sense, in the four cases you cite), whether he admits to the feds, or USADA, or whatever? I can't see that an admission hurts him any more than he's already hurt--he's already gashed to the bone.

I beg to disagree. His real risk, likely what has turned him invisible of late, relates to criminal actions he may have engaged in along the way. Not the least of which would be carrying cash and/or other undeclared items from country to country.

 

[manafana]

Difference is Lance has an array of business interests, his fall out

lance could keep out of way in a hole now and still make money with all the interests he has built up

Thanks for vists on blog to all guys on here.

An admission would put him up for purging himself and would likely bring on the lawsuits

 

[Race Radio]

http://reader.roopstigo.com/view/roopster/story/618/#/chapter/1/

Not looking good. Borrowed $5.5 million against his house.

 

[BroDeal]

http://reader.roopstigo.com/view/roopster/story/618/#/chapter/1/

Not looking good. Borrowed $5.5 million against his house.

Uh-oh. That is what I always thought it would come down to, his debt situation. If he owns his properties free and clear then he has assets that can be disposed of to raise a lot of cash. If he has large debts then his sudden loss of income will really hurt, especially if he has to cover large monthly legal bills.