Lance Armstrong over the years
October 22nd, 2012
01:43 PM ET

Lance Armstrong stripped of Tour de France wins, banned for life

Editor's note:  Lance Armstrong has been stripped of the seven cycling titles that made him a legend. The decision follows this month's finding by the U.S. Anti-Doping Agency that there is "overwhelming" evidence that Armstrong was involved as a professional cyclist in "the most sophisticated, professionalized and successful doping program."

[Updated as 1:43 p.m. ET] An insurance company that covers the performance bonus for Lance Armstrong says it wants all of the money paid to the cyclist returned.

SCA Promotions said it "is considering all legal options to pursue a return of the funds paid."

"Mr. Armstrong is no longer the official winner of any Tour de France races and, as a result, it is inappropriate and improper for him to retain any bonus payments made by SCA."

The BBC has estimated the total amount is $7.5 million.

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