ChrisE said:
Sorry, I thought it was bikecentric making these claims. You said upthread:
"He also had a Salary of $600,000 per year with Cofidis....which they paid him 75% of, contrary to Armstrong's claim".
Your link says he had $2.5 million for 2 years, which jives with the above. I'm game if you can show me how any of this works out. Thanks.
You've made quite some noise today. What I don't get is how you missed the point of the article you were given a link to. It said LA had a two year contract worth $2.5 million. You're math and arithmetic skills aren't too crash hot are they?
You also questioned teammates not being paid their dues. JV was owed $6000 for 1/7 of his share from the 1999 TdF for finishing 3 out of the 21 days. Money he never received. Then there is the crap that happened to Kevin Livingstone and Franky Andreu. Underpaying one for his contract and not paying a $20K bonus to the other because he knew he wouldn't be back next year to race. It doesn't pay to be loyal to LA. He only has his own back, maybe making an exception for the Hog. The man is a tight ****. He revises the unwritten laws on team winnings when its in his interest not to pay. When its in his interest to poach more money, the rules change. But does this surprise anyone?
Here is the data on Lance's Cofidis contract. If you want the monetary value, convert it yourself. Should be no problem with your math skills
ChrisE.
12 September 1996 signed contract for two years with Cofidis worth 6 million francs. Thats 3 million per year. Signed three weeks before cancer detected, ie: around 9th October. LA, Francoise Migraine, Alain Bondue and Cyrille Guimard were there for the negotiations 5 weeks prior to signing. LA claimed in his book that "Cofidis paid less than a third of the original two year contract and required an out clause for 1998." Not true. The contract revision between Stapleton and Bondue had provisions for 1998. A second contract was finalised on December 31 1996 and negotiated by Stapleton. For 1997 $99K gross salary for first 6 months. 2nd half of year $15K for gross salary plus $15K for endorsements and a scale of premiums indexed for UCI points. This contract also included 1998 $14K gross salary, $26K for endorsements and the same indexed premiums for UCI points.
Here is where it gets interesting. Stapleton and LA do a number on Cofidis. Michel Provost the team doctor was in correspondence with LA's doctors regarding LA's health. Cofidis contract stipulate a medical exam. Simple really. All he needed was a doctors certificate, simple medical files. He was never given them, despite Stapleton agreeing they'd be sent. Do the math and you can wonder why...they were scewing Cofidis who had no idea that LA could or would ever race again.
Jump forward to August and Stapleton goes to meet Bondue and Migraine at the team headquarters. Demands LA be looked after for 1998. Cofidis guarantee this, they have a contract after all that says they will. Lots of letters are sent between Migraine and Stapleton in September 1997. Stapleton requested a revaluation of the salary and uci points index whilst informing Cofidis that LA would receive an offer from US Postal. Stapleton went as far as faxing a signed letter at the beginning of October stating Lance would begin procedures for his return to Cofidis for 1998. Another fax from Stapleton confirmed LA would race for Cofidis and Bondue acknowledged this by returning a fax.
The new contract on October 6th 1997 for 1998 racing season. Fixed salary of $1700 per month. Bonus $1700 per race finished. Endorsement contract of $51K for first race appearance. $250 for every UCI point up to 150th and $765 for every point after. Implication is that he would get the outlay of the original contract back if he raced. Plus his disability insurance paid $20,000 per month. He was out for 16 months. Cofidis were then screwed. Stapleton sent a fax the next day claiming Postal were offering $500 up to the 150th UCI point and $1000 every point after. You can imagine that Cofidis couldn't and wouldn't compete. Hardly the story painted in the LA fan club bible.
All up LA was paid 4,437,118 francs or $676,630 US dollars at the time by Cofidis. All after tax. He failed to send a simple doctors report to honour his initial contract and latter revised contract, despite promises he would. He also failed to work a single day (I won't hold this against him). How many grieviously ill workers in the world can claim to be so fortunate? Given this amount of money and the contract details set above for US Postal it is more than fair to assume LA was a millionaire by 1999 (a claim you rejected
ChrisE). His contract with Postal would certainly have been revised after 1998. Is that good enough for you
ChrisE? The above remuneration from Cofidis is 73.95% of his original contract and certainly greater than the "less than a third" spruiked by LA in his book. So unless you care to discredit David Walsh and his book LA Confidential, from which the above infro comes from, I suggested you bite your tongue and sit down.