Amidst recent events, Tour de France winner and cancer survivor Lance Armstrong faces charges for his sins during his cycling career set on November 6 this year. The Tour De France consists of 180 riders who undergo 20 stages of intensity and challenges. Lance Armstrong, who bore the title of champion for seven years, was stripped of his titles due to what was known as the most sophisticated doping in the sport. With testosterone patches, EPO, growth hormones, and blood transfusions, it was hardly detectable under any test, hence, the seven years of his famed career.
Over the years of constantly winning the Tour De France, Lance Armstrong earned a substantial amount of money in regard to USPS sponsorships. Lance Armstrong also led a charity program for cancer patients, including several books and the Livestrong wristband dedicated to cancer research. By this time, Lance Armstrong 2016 net worth had reached a total of $125 Million. The company, US Postal Service, which paid for Armstrong’s team throughout the years 2000-2004, has laid a civil fraud lawsuit against Armstrong for the $32.3 million sponsored by US Postal Service.
Lance Armstrong 2016 net worth of $125 million steadily reaches a decline after constant lawsuits filed against him. For the trial set on November, US Postal Service will sue Armstrong for a total of nearly $100 million, which is three times worth the money paid for the team. While Lance Armstrong is considered to be the leader of the most sophisticated doping program ever to be discovered in sports, Michele Ferrari played a major asset to this program. Interestingly, Armstrong had lab equipment designed for the purpose of testing hematocrit and blood levels with accurate measurements. This allowed Armstrong and his team to remain undetected for nearly a decade. It was only in 2013 that the confession surfaced which also led to his lifetime ban in the sport and was stripped of the seven titles of his victories during the Tour De France Competition. This not only made Armstrong look discredited, but also brought shame to the true sport of cycling.
Although doping is considered to be an unethical and illegal practice in any sport, the US Postal Service during Lance Armstrong’s reign had risen significantly with each year. This made them earn millions due to the value of the client’s winning titles and in return, boosted the market for the US Postal Service, which is presently considered a major courier service company that is recognized globally. However, the trial was decided to proceed since the Court mentioned how monetary benefits received by US Postal Service cannot balance the loss of value in sponsorship and brand value.
Lance Armstrong 2016 net worth of $125 million faces a suing case that just might turn the tide of Armstrong’s estimated worth over the years of his glorious & successful career. At such a hefty rate of sought monetary charges, the tone set for brand value and the possible negative implications it had caused on the company faces a challenge much harder than before. Perhaps not even seeking the return of monetary services & benefits paid for Armstrong’s team will be enough to generate a “clean” record on US Postal Service’s reputation. Not to mention, Lance Armstrong’s 2016 net worth of $125 million against a lawsuit of substantial amount, $100 million, poses a significant effect on Armstrong’s total assets. With the trial coming this November, Armstrong’s attorney, John Keker, requested for the trial to start early next year, but was rejected and responded by a final decision of setting the trial on November this year.