“You will graduate from high school in this house.” This is what Lance Armstrong told his children in an article published in the Architectural Digest in July 2008. “I promise. Dad’s not moving again.” Well, it’s another promise broken. Lance Armstrong has sold his home in an effort to have more money to defend himself against pending lawsuits.
According the USA Today Sports, Travis County (Texas) records appraised the home which sits on 1.7 acres at $3.9 million. The buyer, reported to be the founder of a Texas oil company, took out a loan for $3.1 million loan connected to the purchase. The home is 7,806 square feet and his children designed their own bedrooms.
In the wake is what will be well over $100 million in lawsuits, Armstrong needs to trim back and focus his money on keeping his attorneys. He won’t have any major deals in the foreseeable future, so this is a smart move. Armstrong will continue to reside in Austin.
Said Marc Mukasey, an attorney not connected with the case:
“It’s fair to say that loss of endorsement income combined with expensive litigation would cause someone to watch the bottom line pretty closely.”
I feel sorry for his children. This is yet another change in their lives that they have to suffer because of their father’s lies and deceit. The good news is children are forgiving and resilient.
The public, at least in the short term, not so much.
Your Jersey Girlfriend,