Armstrong settles $3 million lawsuit over bonuses

Sykose Extreme Sports News

Disgraced cyclist Lance Armstrong has reached a settlement with an insurance company over $3 million in performance bonuses paid to him from 1999 to 2001, his spokesman said on Wednesday.

Nebraska-based Acceptance Insurance had sued Armstrong and his former team’s management company after the American cyclist was handed a life ban and stripped of his record seven Tour de France titles following a US Anti-Doping Agency investigation.

Armstrong confessed in an interview with Oprah Winfrey in January that he used performance-enhancing drugs to cheat his way to the Tour de France wins.

The Acceptance Insurance lawsuit, filed in Austin, Texas, said his lies had voided his policy with the insurance company.

“It has been settled,” Armstrong spokesman Mark Higgins told Reuters via email without disclosing any further details.

The settlement came just one day before Armstrong…

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