Armstrong to pay $5m in US fraud settlement

LANCE Armstrong has agreed to pay $5 million in order to settle the looming federal fraud case stemming from his drug-fuelled reign as king of the Tour de France.

The former cycling superstar was due to face a trial next month over claims he defrauded the US Government when he doped while racing for his United States Postal Service-sponsored team.

The Postal Service and former teammate Floyd Landis had sought about $100 million in damages from Armstrong in the case.

However, the prospect of a potentially ruinous judgment going against the cancer survivor was averted after Armstrong’s lawyers and the US Justice Department brokered a settlement.

“No one is above the law,” US Justice Department lawyer Chad Readler said in a statement announcing the deal.

“This settlement demonstrates that those who cheat the Government will be held accountable.”

The Washington Post reported Armstrong will also pay $1.65 million to cover the legal costs of former teammate and whistleblower Landis. A further $1.1 million of the $5 million amount will go to Landis.

“I am glad to resolve this case and move forward with my life,” Armstrong, 46, said in a statement. “I’m looking forward to devoting myself to the many great things in my life.”

Though Armstrong maintained the US Postal case was “without merit and unfair”, he said he was pleased to settle.

“I have since 2013 tried to take full responsibility for my mistakes, and make amends wherever possible,” he said.

“I rode my heart out for the Postal cycling team, and was always especially proud to wear the red, white and blue eagle on my chest when competing in the Tour de France. Those memories are very real and mean a lot to me.”

Landis told ESPN he was relieved not to have to confront Armstrong in court.

“I really didn’t want to relive it in a courtroom, and I don’t think Lance did either,” Landis said.

“And I don’t know that that would have really accomplished anything.”