Why shouldn't Lance receive his bonus? He won the Tour and he wasn't caught for using banned substances when tested. Why should SCA do an investigation after the fact?
What do you think?
From Yahoo.com
Company Withholding $5 Million Bonus for Armstrong
By Jon Herskovitz
DALLAS (Reuters) - A Dallas company that specializes in underwriting prize money is withholding a $5 million bonus to Lance Armstrong until it investigates claims the Tour de France champion used performance-enhancing drugs.
SCA Promotions Inc. said it will wait to pay the bonus to Armstrong for his sixth Tour victory amid claims in the unauthorized biography "LA Confidential: The Secrets of Lance Armstrong" that the American used banned drugs.
The book, written by journalists Pierre Ballester and David Walsh, contains statements from a former masseuse for Armstrong's U.S. Postal team who made the doping allegations against the American cyclist.
Armstrong and his sponsors have vigorously denied the claims, saying the Texan has passed every drug test given to him.
They sought injunctions against the book in French courts, but in July, a Paris appeals court turned down a request by Armstrong asking that the book include his outright denial of the allegations.
The $5 million has been placed in a custodial account with JP Morgan, SCA said.
"We are obligated to investigate the claims," said SCA attorney Chris Compton. He would not elaborate on the details of the investigation or any specific claims that are being examined.
In 2001, Tailwind Sports, the parent company of Armstrong's cycling team, paid SCA an insurance premium of $420,000 before the Tour de France to pay bonuses if Armstrong earned them.
SCA paid a $1.5 million bonus in 2002 for Armstrong's Tour victory and a $3 million bonus in for his win in 2003. Armstrong was to receive the $5 million bonus after winning his sixth straight Tour earlier this year.
Armstrong and Tailwind filed a lawsuit in a state court in Texas earlier this month seeking the $5 million bonus from SCA. The plaintiffs argue that the Tour victories have been approved by appropriate cycling authorities and that Armstrong is due the bonus.
What do you think?
From Yahoo.com
Company Withholding $5 Million Bonus for Armstrong
By Jon Herskovitz
DALLAS (Reuters) - A Dallas company that specializes in underwriting prize money is withholding a $5 million bonus to Lance Armstrong until it investigates claims the Tour de France champion used performance-enhancing drugs.
SCA Promotions Inc. said it will wait to pay the bonus to Armstrong for his sixth Tour victory amid claims in the unauthorized biography "LA Confidential: The Secrets of Lance Armstrong" that the American used banned drugs.
The book, written by journalists Pierre Ballester and David Walsh, contains statements from a former masseuse for Armstrong's U.S. Postal team who made the doping allegations against the American cyclist.
Armstrong and his sponsors have vigorously denied the claims, saying the Texan has passed every drug test given to him.
They sought injunctions against the book in French courts, but in July, a Paris appeals court turned down a request by Armstrong asking that the book include his outright denial of the allegations.
The $5 million has been placed in a custodial account with JP Morgan, SCA said.
"We are obligated to investigate the claims," said SCA attorney Chris Compton. He would not elaborate on the details of the investigation or any specific claims that are being examined.
In 2001, Tailwind Sports, the parent company of Armstrong's cycling team, paid SCA an insurance premium of $420,000 before the Tour de France to pay bonuses if Armstrong earned them.
SCA paid a $1.5 million bonus in 2002 for Armstrong's Tour victory and a $3 million bonus in for his win in 2003. Armstrong was to receive the $5 million bonus after winning his sixth straight Tour earlier this year.
Armstrong and Tailwind filed a lawsuit in a state court in Texas earlier this month seeking the $5 million bonus from SCA. The plaintiffs argue that the Tour victories have been approved by appropriate cycling authorities and that Armstrong is due the bonus.
