Armstrong's financial situation

[thehog]

It is $12,000,000 and SCA has not gone away. They will get their money

High stakes poker. With SCA holding a flush.

What will Armstrong do? Bluff? Fold? Or raise the stakes?

 

[Ryo Hazuki]

I just wish time would go by quicker and we could see how much he ends up losing.

 

[wirral]

I just wish time would go by quicker and we could see how much he ends up losing.

It may well all be done behind closed doors and non-disclosure agreements so nothing is ever reported about it again.

But I too would like to hear the outcome.

 

[coinneach]

The Sunday Times in the UK is suing for "£1,000,000" in relation to the £300,000 Lance was awarded in an earlier case:

http://www.bbc.co.uk/sport/0/cycling/20833119

 

[ChrisE]

It may well all be done behind closed doors and non-disclosure agreements so nothing is ever reported about it again.

But I too would like to hear the outcome.

Yes, we all cannot wait to see LA end up in the poor house. We can chastise the cop that gives him shoes to wear, launch into diatribes about people that don't spit on him as they walk by. Much humor, rubbernecking, and righteous comeuppance for all.

 

[Fearless Greg Lemond]

Yes, we all cannot wait to see LA end up in the poor house. We can chastise the cop that gives him shoes to wear, launch into diatribes about people that don't spit on him as they walk by. Much humor, rubbernecking, and righteous comeuppance for all.

He had it coming, simple as that.

That said, I am not enjoying his fall, I really dont care for the man.

 

[ebandit]

chrisE he's the man

Yes, we all cannot wait to see LA end up in the poor house. We can chastise the cop that gives him shoes to wear, launch into diatribes about people that don't spit on him as they walk by. Much humor, rubbernecking, and righteous comeuppance for all.

chrisE..............thanks! for brightening up an often too dull forum

i don't look to see lance in the 'poor house' just living an ordinary life
with a little comfort................not indulging in a 'lifestyle of the rich and famous' through cheating

and when lance was earning millions in endorsements........why did he not donate half to livestrong instead of asking less well off people to donate?

 

[ChrisE]

chrisE..............thanks! for brightening up an often too dull forum

i don't look to see lance in the 'poor house' just living an ordinary life
with a little comfort................not indulging in a 'lifestyle of the rich and famous' through cheating

and when lance was earning millions in endorsements........why did he not donate half to livestrong instead of asking less well off people to donate?

I don't know why he did what he did or what he did for that matter in terms of donations; I am not in his head nor have I seen his tax returns.

 

[frenchfry]

I don't know why he did what he did or what he did for that matter in terms of donations; I am not in his head nor have I seen his tax returns.

But if you keep this up you will be on his Christmas gift list! Keep up the good work!

 

[ChrisE]

But if you keep this up you will be on his Christmas gift list! Keep up the good work!

Nah, with his financial situation I doubt he could give me what I want; I wild night at the Yellow Rose!

 

[Velodude]

Nah, with his financial situation I doubt he could give me what I want; I wild night at the Yellow Rose!

Would he pay for your Betty Ford bills too?

 

[blackcat]

^zing ^zing

 

[MarkvW]

I'm liking Rupert Murdoch for the big money.

SCA is not a sure thing, by any means.

 

[mewmewmew13]

^zing ^zing

Lol
.......

 

[86TDFWinner]

It is $12,000,000 and SCA has not gone away. They will get their money

I think so too. He can have his battery of high priced lawyers drag it out all he wants, he'll end up paying them in the end. Poor One nut.

 

[Merckx index]

As posted in the general LA thread, the feds have rejected an offer of $5 million from LA:

Lance Armstrong has offered to pay more than $5 million to the federal government to compensate for the fraud he allegedly committed against the U.S. Postal Service, CBS News has learned. The Postal Service paid Armstrong's team more than $30 million to sponsor it from 1999 to 2004 as part of a contract that banned doping.

CBS News has also learned Armstrong offered to be a cooperating witness in a federal investigation.

But our sources say the Department of Justice has turned down both offers as inadequate.

We know his offer of $1 million to SCA was also rejected. Poor guy can't even give away money.

Also posted on another thread, this link to an article on Weisel and his involvement:

The federal whistle-blower lawsuit targets Tailwind as a defendant, so the question of who controlled Tailwind is critical. The professional cycling team Weisel first assembled in 1998 was called Montgomery-Subaru, after its sponsors, but Tailwind was the team’s holding company, records show.

During the team’s earliest years, “Lance had no part of ownership of Tailwind, which was chaired by Thom Weisel for many years,” according to a memo produced as part of legal proceedings by an attorney for the Dallas insurer SCA. By 2004, however, Armstrong had taken an 11.5 percent ownership stake in the firm, his agent Stapleton said during a 2005 deposition in the SCA litigation.

In documents prepared for a 2005 arbitration case in which the SCA insurance firm made an earlier attempt to recoup its $11 million, the Center for Investigative Reporting found reports of three incidents in which Weisel was allegedly confronted with the doping allegations swirling around the Postal Service team:
—In the 1996 team shake-up, team physician Steffen complained in faxes to Weisel that he was losing his job because he refused to allow drugs on the team…

While Armstrong was en route to his first Tour de France win in 1999, the team was roiled by a report that the cycling star had tested positive for cortisone, a banned substance. Team masseuse Emma O’Reilly claimed she had witnessed Weisel huddling with Armstrong in the cyclist’s massage room, “frantic about what to do about the positive test.”…

Retired U.S. cycling champion Greg LeMond publicly criticized Armstrong in 2001 for training with Ferrari, the reputed doping master. Soon, LeMond said, he got a threatening call from Weisel. “What you’re saying about Lance isn’t good for you,” LeMond claimed Weisel told him.

 

[blackcat]

Would he pay for your Betty Ford bills too?

heheheh

crawfish and jambalaya

 

[blackcat]

I'm liking Rupert Murdoch for the big money.

SCA is not a sure thing, by any means.

how you work that?

if ever there is a lay down misere

 

[ValleyFlowers]

We know his offer of $1 million to SCA was also rejected. Poor guy can't even give away money.

It's bad when you can't give $1 million away.

But when you can't get someone to take a $5 million check from you it's going to worry a guy.

U.S. government rejects Armstrong's $5 million offer in whisteblower case

 

[S2Sturges]

It's bad when you can't give $1 million away.

But when you can't get someone to take a $5 million check from you it's going to worry a guy.

U.S. government rejects Armstrong's $5 million offer in whisteblower case

I have a feeling a fecking great hammer is going to fall on someone very soon and money isn't going to help it one bit..

 

[Epicycle]

Phil Knight is asked if Nike will ever reunite with Lance. He smiles and says "never say never".

http://www.tmz.com/2013/01/16/nike-ceo-phil-knight-lance-armstrong/

 

[hfer07]

Are the Andreu's suing LA's azz? They truly deserve every penny they can get from that azzh0le for the damage he inflicted on them.

 

[BillytheKid]

Yes, we all cannot wait to see LA end up in the poor house. We can chastise the cop that gives him shoes to wear, launch into diatribes about people that don't spit on him as they walk by. Much humor, rubbernecking, and righteous comeuppance for all.

never mind.

 

[mountainrman]

Are the Andreu's suing LA's azz? They truly deserve every penny they can get from that azzh0le for the damage he inflicted on them.

I suspect they will not have to.

I suspect LA will make some kind of offer as a promoted publicity stunt on his mission to get accepted back in the human race.

Whether they accept or refuse or ask for ten times on a matter of "principle" will have to be seen.

 

[ultimobici]

Betsy indicated that it's not really possible to sue as Armstrong never actually legally defamed her. He never called her a liar.

The person who could possibly sue for defamation is Emma O'Reilly as she was painted as being fired for unprofessional conduct by Armstrong. But even that was dressed up so it was unclear.

All in all he's a slippery customer.