Lance Armstrong said he lost $75 million in endorsements in a single day and was asked to step down from his Livestrong cancer charity as a result of his cheating with drugs through a record title run in cycling’s biggest race.
In the second part of his interview with Oprah Winfrey, Armstrong expanded upon the lies, cheating and doping regimen that he acknowledged yesterday. He said that he was humbled when Nike called and told him it was ending its partnership with the former cyclist.
“In a way, I just assumed we’d get to that point,” Armstrong said. “The story was getting out of control, which was my worst nightmare. I had this place in my mind that they would all leave.”
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The 41-year-old American, whose survival from testicular cancer helped create the largest athlete-founded charity in the U.S., was banned in October from competing in Olympic-level sports for life. That came after the U.S. Anti-Doping Agency published a 1,000-page report that said it found proof he engaged in serial cheating though the use, administration and trafficking of testosterone, erythropoietin, or EPO, and blood transfusions.
In the first part of the interview, which aired yesterday, Armstrong confirmed the use of all three doping methods, acknowledging that he cheated during all seven of his Tour de France wins.
He said he never felt like he was cheating because doping was endemic to his generation of cyclists, and acknowledged that he owed apologies to people he bullied and attacked during 13 years of emphatic denials. He called it all “one big lie.”
The first part of the interview was watched by 4.3 million people on the Oprah Winfrey Network, OWN said in a statement. It was the highest-rated weekday telecast for the network, according to the statement.
Following the USADA report, which he declined to fight, Armstrong was dropped by sponsors including Nike, Oakley, Anheuser-Busch, Trek Bicycle Corp., and energy supplement makers FRS and Honey Stinger.
“A $75 million day,” Armstrong said of the sponsor cuts.
In total, the cyclist lost as much as $200 million in future earning potential, according to market analysts.
Armstrong’s net worth was estimated at $125 million in August by Forbes Magazine, which said at the time that he earns more than $10 million per year in speaking and endorsement deals.
After being banned, Armstrong also severed ties with Livestrong. The largest athlete-founded charity has raised more than $470 million since 1997, according to its website.
“The one person that I didn’t think would leave was the foundation,” Armstrong said. “That was the most humbling moment.”
Livestrong said Thursday in a statement: “Even in the wake of our disappointment, we also express our gratitude to Lance as a survivor for the drive, devotion and spirit he brought to serving cancer patients and the entire cancer community.”
Armstrong was diagnosed in 1996 with stage three testicular cancer that spread to his lungs and brain. He returned to the Tour de France in 1999, winning the first of seven consecutive titles, six with the U.S. Postal Service team and the final with a team sponsored by the Discovery Channel.
Travis Tygart, chief executive of the Colorado Springs, Colorado-based USADA, said in an e-mailed statement following last night’s interview that Armstrong took a “small step” in the right direction.
“If he is sincere in his desire to correct his past mistakes, he will testify under oath about the full extent of his doping activities,” Tygart said.
Pat McQuaid, president of the International Cycling Union or UCI, said in a statement after yesterday’s portion that it was “disturbing” to watch Armstrong describe his lies and bullying.
Armstrong is in talks to return a portion of the millions of taxpayer dollars received by the U.S. Postal Service team, whose contract specifically banned doping, according to CBS News. The network reported this week that the Justice Department rejected a $5 million offer from the cyclist that included his participation in a federal investigation.
He faces potential legal ramification from a whistle-blower lawsuit filed by former teammate Floyd Landis, and possible lawsuits from Dallas-based SCA Promotions over bonus payments it insured and the U.K. newspaper Sunday Times, for $1.5 million it paid Armstrong to settle a libel suit in 2006.
The Australian state of South Australia is also seeking damages or compensation from Armstrong for “several million dollars” of appearance fees from its Tour Down Under, according to ESPN.
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Armstrong for years verbally attacked anyone who questioned the validity of his achievements. Those included three-time Tour de France winner Greg LeMond, the first U.S. champion of the race; Emma O’Reilly, a former masseuse with his team who told of doping and cover-up strategies, and Betsy Andreu, the wife of one-time teammate Frankie Andreu, who testified that she heard Armstrong acknowledge doping prior to his cancer diagnosis.
Armstrong said yesterday that he reached out O’Reilly and apologized to Betsy Andreu in a recent 40-minute phone call. He called his attacks a product of his competitive and bullying nature.
“I was just on the attack,” he said. “Territory being threatened, team being threatened, reputation being threatened, I’m going to attack.”
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