Lance's lawyers prepare to battle over sponsorship funds
WITH the admission made, Lance Armstrong's lawyers can prepare to deal with insurance companies, sponsors, Tour de France organisers and media companies who will demand he repay countless millions of dollars paid to the now disgraced cyclist during his career.
Having already lost an estimated $75 million in sponsorship deals from companies like Nike, Oakley, Trek and Anheuser-Busch last October, Armstrong's admission in a televised interview with Oprah Winfrey was expected to spark a string of claims.
The seven-time Tour de France winner said he would spend as much time as was needed trying to make amends.
"Do you feel disgraced?" Winfrey asked in the second part of the interview.
"Of course," Armstrong said.
"But I also feel humbled. I feel ashamed. This is ugly stuff."
Ugly indeed.
Texan company SCA Promotions has already said it would lodge a lawsuit this week to recoup $12million in insured bonuses paid to Armstrong after he claimed his fourth, fifth and sixth Tour de France wins.
That company will be the first in a long queue.
