After having to give up his Tour de France titles and his entire career in sports, former cycling champion Lance Armstrong found himself forced to also give up his luxurious property in Austin, Texas. The buyer was apparently an oil-and-gas rights agent, Al Koehler.
Apparently, this is the exact same residence in which Armstrong made his confession about having used performance enhancement drugs for a significant part of his career. Here Oprah Winfrey filmed the famous disclosure interview in January this year. After the truth was revealed, a series of lawsuits were filed against him, resulting in huge amount of money being claimed back from various former sponsors.
This is probably the main reason why Armstrong decided to give up his 1.7-acre property and the 7,850 square foot residence. He had bought the house in 2004 and had a series of upgrades and renovations done since then, raising its value to $3.9 million. There were some rumors of the property having been listed at $10 million, but the buyer may have actually paid much less for it.
Koehler apparently got a $3.1 loan for the purchase, which means that the disgraced cyclist may have to find some extra resources to pay all the money that the lawsuits are forcing him to pay. Reports also mention the fact that he is planning to remain in Austin after the sale, probably for the sake of his kids, whom he had promised not to move around from one place to another anymore.
