The fun begins - SCA now asking for money back...

[mountainrman]

BBC Sport interview with the lawyers.

http://www.bbc.co.uk/sport/0/cycling/20029617

Only $7.5 m so So Lance only has to sell one house of several to pay that if that is what he decides
Less than one years sponsorship money, so hardly a killer.

 

[GoGarmin]

<Gets popcorn>

 

[Moose McKnuckles]

BBC Sport interview with the lawyers.

http://www.bbc.co.uk/sport/0/cycling/20029617

Only $7.5 m so So Lance only has to sell one house of several to pay that if that is what he decides
Less than one years sponsorship money, so hardly a killer.

I have no idea how much Lance is actually worth, but the last time he sold a house, it wasn't worth anywhere close to that amount.

$7.5M is hardly a killer. Add $3M to ASO and now we have $10.5M. Not counting any continuing legal fees.

 

[mountainrman]

I have no idea how much Lance is actually worth, but the last time he sold a house, it wasn't worth anywhere close to that amount.

$7.5M is hardly a killer. Add $3M to ASO and now we have $10.5M. Not counting any continuing legal fees.

His house in the West End at Aspin was bought for close to $10m - probably only worth $6-7m now.
I wonder if "lance lived here" increases or depresses the price!
Various massive properties in Austin - he also has a Jet as far as I am aware worth $11m and up for sale...

The point is, eye watering the bill may be, but hardly a killer.
And since an extend trial would possibly cost $7 figures he may just buy his way out of this one - with an undisclosed settlement (offering them a few mill to go away, without admitting liability) although I suspect they are out of SOL time on a "Not paying because you did not win" claim - the original lawsuit was "Not paying because you doped - only to find the contract did not contain a "no doping" clause, so SCA lost". So he may just brass it out instead...

Would not like his legal bill for the last few weeks!
Doubt if ASO can get their money back.

 

[Fidolix]

Price money would be around 2 mill.

 

[Turner29]

I have no idea how much Lance is actually worth, but the last time he sold a house, it wasn't worth anywhere close to that amount.

$7.5M is hardly a killer. Add $3M to ASO and now we have $10.5M. Not counting any continuing legal fees.

Has the ASO indicated they will demand repayment? Don't forget the Sunday Times suit, another $1 million or so, plus interest...

 

[Lukenwolf]

Thos 10M will only be the beginning. What about USPS and Discovery Channel, who's image certainly has taken a hit now. What about all the people he silenced with faux lawsuits or otherwise bullied.
And there could still be a class action suit headed his way for people, who donated money to his livestrong scheme under false pretenses.

 

[mountainrman]

Thos 10M will only be the beginning. What about USPS and Discovery Channel, who's image certainly has taken a hit now. What about all the people he silenced with faux lawsuits or otherwise bullied.
And there could still be a class action suit headed his way for people, who donated money to his livestrong scheme under false pretenses.

As far as I am aware , all of those lawsuits are way out of time - upset they may be, not sure they can do a right lot about it - the only thing that lingers on is the possibility of criminal action, and that for present is stalled. US postal are on the in serious financial trouble so they have far bigger fish to fry than Lance.

 

[JMBeaushrimp]

The article actually says "7.5 million pounds", not dollars...

The more the merrier...

 

[Turner29]

Keep in mind that fraud and conspiracy trump statute of limitations. I can now imagine various parties suing Lance Armstrong for defamation. If I were the Andreus, I would be spending tomorrow in a lawyer's office...

 

[ChewbaccaD]

His house in the West End at Aspin was bought for close to $10m - probably only worth $6-7m now.
I wonder if "lance lived here" increases or depresses the price!
Various massive properties in Austin - he also has a Jet as far as I am aware worth $11m and up for sale...

The point is, eye watering the bill may be, but hardly a killer.
And since an extend trial would possibly cost $7 figures he may just buy his way out of this one - with an undisclosed settlement (offering them a few mill to go away, without admitting liability) although I suspect they are out of SOL time on a "Not paying because you did not win" claim - the original lawsuit was "Not paying because you doped - only to find the contract did not contain a "no doping" clause, so SCA lost". So he may just brass it out instead...

Would not like his legal bill for the last few weeks!
Doubt if ASO can get their money back.

I suspect you're on the wrong side of that suspicion.

Now, go away already. Sockpuppets are really tiresome.

 

[Turner29]

The article actually says "7.5 million pounds", not dollars...

The more the merrier...

Now it seems corrected to dollars.

 

[rhubroma]

BBC Sport interview with the lawyers.

http://www.bbc.co.uk/sport/0/cycling/20029617

Only $7.5 m so So Lance only has to sell one house of several to pay that if that is what he decides
Less than one years sponsorship money, so hardly a killer.

The vultures are hovering above the carcass...

 

[ChewbaccaD]

Keep in mind that fraud and conspiracy trump statute of limitations. I can now imagine various parties suing Lance Armstrong for defamation. If I were the Andreus, I would be spending tomorrow in a lawyer's office...

They toll SOL's generally based on the determination of when the fraud was discovered, or when it SHOULD HAVE BEEN discovered. That last part is a hurdle because they settled the original case. And though I don't have the time right now to do the heavy lifting, I suspect that there is a solid legal argument for their position however. I am also guessing that a judge would look more favorably on their arguments at this point than that of Mr. Armstrong.

The question is whether Lance can foot the bill for this, and the other suits that are sure to follow? I am thinking that will be his financial undoing.

 

[uspostal]

I believe that the SOL in the US on fraud is 15yrs, so he may still be in some very hot water. I'm not 100% sure on the SOL but it is in the state I live in.

 

[Aleajactaest]

The question is whether Lance can foot the bill for this, and the other suits that are sure to follow? I am thinking that will be his financial undoing.

I'm thinking that you and everyone else in all the money threads are pulling assumptions out of your asses.

Yes, it will cost him a lot of money. How much is unknowable at this time. Additionally, no one has any real idea of his current financial status. So, you have an equation with two unknowns and no basis to get known anytime soon.

 

[mountainrman]

The question is whether Lance can foot the bill for this, and the other suits that are sure to follow? I am thinking that will be his financial undoing.

I sincerely doubt it.

This SCA suit will be the "biggie" and as I have said - I suspect he will do a deal for a few mill to keep it out of court , which will cost him a house or a jet,

I doubt if Nike or the big sponsors will come at him, first because of a probable lack of legal grounds to do so, and also because as a popular sportsman he made them money at a guess,

I am guessing it would require an award of $tens millions, which process would take years if ever awarded to break Lance, and I cannot see who can come at him for more than 7 figures. Sunday times will have a go, so I suspect might LeMond, even ASO, but even in combination they are $10m. Lance was reportedly earning 8 figures a year in sponsorships.

 

[No_Balls]

As far as I am aware , all of those lawsuits are way out of time - upset they may be, not sure they can do a right lot about it - the only thing that lingers on is the possibility of criminal action, and that for present is stalled. US postal are on the in serious financial trouble so they have far bigger fish to fry than Lance.

The more reason to fry him then because he is the easiest target for now and as a scapegoat=easy money.

If you keep this up. You will be removed from Armstrongs payroll earlier then expected, and that aint because of him being skinned to the bone.

 

[jam pants]

His house in the West End at Aspin was bought for close to $10m - probably only worth $6-7m now.
I wonder if "lance lived here" increases or depresses the price!
Various massive properties in Austin - he also has a Jet as far as I am aware worth $11m and up for sale...

The point is, eye watering the bill may be, but hardly a killer.
And since an extend trial would possibly cost $7 figures he may just buy his way out of this one - with an undisclosed settlement (offering them a few mill to go away, without admitting liability) although I suspect they are out of SOL time on a "Not paying because you did not win" claim - the original lawsuit was "Not paying because you doped - only to find the contract did not contain a "no doping" clause, so SCA lost". So he may just brass it out instead...

Would not like his legal bill for the last few weeks!
Doubt if ASO can get their money back.

I like how you're positioning it! Micro-managing the message on each aspect of the fallout.

"Well, he's on death row, but he's getting the lukewarm mash at dinner instead of the cold mash!"

 

[Amsterhammer]

The question is whether Lance can foot the bill for this, and the other suits that are sure to follow? I am thinking that will be his financial undoing.

(re-posted from the UCI reaction topic, more suitable here)

Oprah will offer to come out of retirement and pay LA $25m (or more) to confess to her on live tv. The commercials would sell for Superbowl prices.

He might do it for that.

 

[jam pants]

I sincerely doubt it.

This suit will be the "biggie" and as I have said - I suspect he will do a deal for a few mill to keep it out of court , which will cost him a house or a jet,

I doubt if Nike or the big sponsors will come at him, first because of a probable lack of legal grounds to do so, and also because as a popular sportsman he made them money at a guess.

I am guessing it would require an award of $tens millions, which process would take years if ever awarded to break Lance, and I cannot see who can come at him for more than 7 figures.

How's the discussion on that other forum you run^H^H^H visit?

 

[fuggles]

I am not a lawyer, so if anyone could help me out that would be great. It seems to me that Lance may just want to start cutting checks too some of the bigger fish.

Assuming his income is next to nil, he may not be able to afford multiple lengthy court proceedings. I also seem to remember that that Lance always won his lawsuits and got paid "damages" + legal fee's he incurred. It could get ugly fast if that situation gets turned around on him. SCA goes from $7.5 million to $??.

Also, isn't it a big risk for him to get deeply involved in court proceedings? AFAIK he is not seen as a criminal under the law currently, but what if a ruling goes the wrong way for him? Could he end up a "criminal", or at least reset any SOL that are currently in effect?

Thanks.

 

[Turner29]

They toll SOL's generally based on the determination of when the fraud was discovered, or when it SHOULD HAVE BEEN discovered. That last part is a hurdle because they settled the original case. And though I don't have the time right now to do the heavy lifting, I suspect that there is a solid legal argument for their position however. I am also guessing that a judge would look more favorably on their arguments at this point than that of Mr. Armstrong.

The question is whether Lance can foot the bill for this, and the other suits that are sure to follow? I am thinking that will be his financial undoing.

You are right. The SOL Toll would be in itself a legal battle with the implication that SCA Promotions "discovered" fraud in 2004, not 2012... Armstrong's lawyers do have a history of using conflicting arguments when it suits them, for example in the SCA Promotions suit stating that the USADA was the authority for anti-doping.

But if the SOL is long enough, at least with SCA Promotions, tolling would not matter. The larger issue may be the nature of the settlement agreement, as settlements are very difficult to reopen.

How would fraud and perjury play there?

PS I am not a lawyer, but have significant experience regarding arbitrations, tolling and settlement agreements, have won an action against a very large Investment Bank.

 

[Ryo Hazuki]

I have no idea how much Lance is actually worth, but the last time he sold a house, it wasn't worth anywhere close to that amount.

$7.5M is hardly a killer. Add $3M to ASO and now we have $10.5M. Not counting any continuing legal fees.

his legal fees will be through the roof and my hopes are he will also have to repay liestrong once that fraud has come to light in it's fullest. then he will go bankrupt. I can't wait for it.

 

[Maxiton]

I sincerely doubt it.

This SCA suit will be the "biggie" and as I have said - I suspect he will do a deal for a few mill to keep it out of court , which will cost him a house or a jet,

I doubt if Nike or the big sponsors will come at him, first because of a probable lack of legal grounds to do so, and also because as a popular sportsman he made them money at a guess,

I am guessing it would require an award of $tens millions, which process would take years if ever awarded to break Lance, and I cannot see who can come at him for more than 7 figures. Sunday times will have a go, so I suspect might LeMond, even ASO, but even in combination they are $10m. Lance was reportedly earning 8 figures a year in sponsorships.

Qui tam.

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