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Richest Olympic cheater

By Judy Martel · Bankrate.com
Wednesday, February 27, 2013
Posted: 6 am ET

Here's another humiliating fact that puts cyclist Lance Armstrong in the history books: He's the richest cheater ever to be stripped of an Olympic medal or championship, according to Bloomberg.

Lance Armstrong's newest title: richest Olympic cheater.

Before being stripped of his titles by the U.S. Anti-Doping Agency, the seven-time Tour de France winner earned more than $218 million, Bloomberg reports. The cyclist admitted to using performance-enhancing drugs after vehemently denying the charges for years.

In the ensuing pileup of charges and disgrace, he was also stripped of his bronze medal for the 2000 Olympics in Sydney.

Other athletes who suffered a similar removal of titles and medals because of the use of performance drugs include runners Marion Jones and Ben Johnson and cyclists Floyd Landis and Alberto Contador.

The charity Armstrong founded to help in the fight against cancer, Livestrong, has raised more than $470 million, with Armstrong himself donating $7 million. Though the charity will continue, Armstrong -- its largest private donor -- will likely not have the funds to continue his philanthropic commitment, at least not on the same monetary scale.

The list of sponsors who dropped Armstrong is long, including Nike, Oakley, Anheuser-Busch and Trek Bicycle Corp. Endorsements and speaking engagements comprised approximately $180 million of Armstrong's income, according to IEG of Chicago, a sponsorship consultant.

Jim Andrews, senior vice president of content strategy at IEG, told Bloomberg that "with the number of companies associated with him, the amount of years and the amount of money that was involved, all told, I just don't see anything that equates to it."

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3 Comments
Karen
February 19, 2014 at 9:26 pm

As for punishment for his cheating... The money awards and the medals should be given the to second place winner. He already does charity work for cancer so at least his public service is taken care of...

Karen
February 19, 2014 at 9:22 pm

Why does everyone think death and destruction (or tar and feathering) are appropriate punishment for his lies? Do you even consider how truly painful that punishment was? Try pouring scalding hot wax on your skin and leave it there. Hurts right? Now imagine heat that is longer lasting and hotter. Add feathers. Now try removing it... Ripping off one's skin and suffering subcutaneous burns that fester and rot... Gee! What a wonderful person you are. Think before you comment. Besides, he had testicular cancer... I don't think he has them to remove.

Lynn Allen
February 19, 2014 at 8:47 pm

He needs to be striped of all financial gain and the money distributed to the honest participants he cheated.

I also thin Tar and feathering appropriate after his testicles have been removed with a quick cut, no anesthesia.