Before news of Lance’s participation in the doping scandal went public, he had lucrative endorsement deals with the USPS, Nike, Oakley, Trek Bicycle Corp, Anheuser Busch, Honey Stinger, and FRS. These brands all later dropped him when it was discovered that Lance had won most of his major victories in cycling with the help of performance enhancing drugs.
In 2012, Forbes estimated that losing these brand deals would cost Lance upwards of $150 million over the span of 10 years.
In October of 2012, Lance announced that he would be stepping down from his role as the chairman of Livestrong. While Lance wasn’t actively getting money for being part of Livestrong, the non-profit charity (which focused on cancer support) lost millions in donations as a result of its association with Lance.
Lance also had to pay the USPS $5 million in a settlement for fraud, as he had represented the USPS cycling team for much of his career.
At the peak of his career, it was estimated that Lance had a net worth of $125 to $150 million. He admitted in a 2013 interview with Oprah Winfrey that he thought he had lost around $75 million due to legal fees, the loss of his endorsement deals, and other costs from the scandal.
“It was a $75 million day. Gone,” he told Oprah during their sit-down.
You can stream Lance on ESPN+.
Source : https://www.distractify.com/p/lance-armstrong-net-worth-2020