Lance Armstrong ordered to pay $10 million to promotions company

Disgraced cyclist Lance Armstrong has been ordered to pay $10 million to a promotions company after an arbitration panel found he conducted an “unparalleled pageant of international perjury, fraud and conspiracy” during his career.

A three-man arbitration panel ruled 2-1 in favor of SCA Promotions in its decision against Armstrong and Tailwind Sports Corp., a former co-owner for two of Armstrong’s teams.

SCA Promotions paid Armstrong about $12 million during his career. After the U.S. Anti-Doping Agency found Armstrong used performance-enhancing drugs throughout his career, the Dallas-based company sued him for fraud.

In a court filing Monday, SCA Promotions asked Texas’ 116th Civil District Court in Dallas to confirm the judgment. According to USA Today, SCA Promotions stated in its filing that Armstrong indicated he would refuse to pay the $10 million.

Tim Herman, Armstrong’s lawyer, insisted the ruling goes against Texas law and predicted a judge will overturn the decision.

Armstrong sued SCA Promotions in 2004 for breach of contract, arguing he had not been paid contractual bonuses after Tour de France wins from 2002-04. The case went to arbitration. During the arbitration hearing, Armstrong said he never used performance-enhancing drugs. SCA Promotions eventually settled the case, paying out $7.5 million.

Armstrong was stripped of his seven Tour de France titles and given a lifetime ban from competitive cycling in 2012. He admitted to using drugs during a 2013 interview with Oprah Winfrey.

The arbitration case was heard by independent chairman Larry Faulkner, SCA selection Richard Chernick and Armstrong pick Ted Lyons. Faulkner and Chernick ruled in favor of SCA.

In its decision, dated Feb. 4, the panel’s majority wrote: “Perjury must never be profitable. Tailwind Sports Corp. and Lance Armstrong have justly earned wide public condemnation. That is an inadequate deterrent. Deception demands real, meaningful sanctions.”

In his dissent, Lyons argued that the 2006 settlement between SCA Promotions and Armstrong could not be overturned under Texas law.

“There is no Texas case or statute that allows for this type of sanctions motion nine years after the award was given,” Lyons wrote.

The Associated Press contributed to this report.