Armstrong settles $100 million lawsuit with U.S. government

Lance Armstrong reached a $5 million settlement with the federal government in a whistle-blower lawsuit that could have sought $100 million in damages from the cyclist who was stripped of his record seven Tour de France victories after admitting he used performance-enhancing drugs throughout much of his career.

The deal announced Thursday came as the two sides prepared for a trial that was scheduled to start May 7 in Washington. Armstrong’s former U.S. Postal Service teammate Floyd Landis filed the original lawsuit in 2010 and is eligible for up to 25 percent of the settlement, along with attorney fees paid by Armstrong.

Seeking millions it spent sponsoring Armstrong’s powerhouse teams, the government joined the lawsuit against Armstrong in 2013 after his televised confession to Oprah Winfrey to using steroids and other performance-enhancing drugs and methods. Armstrong already had retired, but the confession shattered the legacy of one of the most popular sports figures in the world.

In a statement, Armstrong said he’s happy to have “made peace with the Postal Service.”

“While I believe that their lawsuit against me was meritless and unfair, and while I am spending a lot of money to resolve it, I have since 2013 tried to take full responsibility for my mistakes and inappropriate conduct, and make amends wherever possible,” said Armstrong, 46. “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.”

The settlement clears Armstrong of the most damaging legal issues still facing him. He already had taken huge hits financially, losing all his major sponsors and being forced to pay more than $20 million in damages and settlements in a series of lawsuits.