.

Lance Armstrong Sells Estate

Home reportedly purchased for far below listed price

Lance Armstrong.
Gary Miller/FilmMagic
April 11, 2013 3:00 PM ET

Lance Armstrong's losses continue; the athlete has sold his Austin estate. Travis County records show Al Koehler, an oil and gas rights agent, obtained a $3.1 million loan to buy the property.

While the Travis County tax roll valued Armstrong's 1.7 acre property at $3.9 million, real estate agents said it was on the market at $10 million, the Austin American-Statesman reports. Koehler – whose company Royalty Clearinghouse buys oil and gas royalties and mineral rights for clients – said he paid nothing close to the listed value.

Update: Lance Armstrong Drops Fight Against Doping Charges

Mark Higgins, a spokesperson for Armstrong, confirmed the sale but added that Armstrong planned to remain an Austin resident.

The sale of his beloved Austin home is the latest news in Armstrong's downfall after he was stripped of all seven of his Tour de France titles in August and banned from the sport altogether for using performance-enhancing drugs. In a confessional interview with Oprah last January, Armstrong finally admitted to doping, adding that he did not think it would have been possible to win his seven straight Tour de Frances without it.

To read the new issue of Rolling Stone online, plus the entire RS archive: Click Here

prev
Culture Main Next

blog comments powered by Disqus
Daily Newsletter

Get the latest RS news in your inbox.

Sign up to receive the Rolling Stone newsletter and special offers from RS and its
marketing partners.

X

We may use your e-mail address to send you the newsletter and offers that may interest you, on behalf of Rolling Stone and its partners. For more information please read our Privacy Policy.

 
www.expandtheroom.com