New York: Lance Armstrong has been fined 10million US dollars (£6.5m) for lying about his use of performance-enhancing drugs following an arbitration panel hearing into his case with SCA Promotions.
Dallas-based SCA Promotions was forced to pay Armstrong 7.5m dollars in 2006 after an arbitration process over disputed payments relating to his seven Tour de France victories.
However, Armstrong has since admitted to doping in all seven of his Tour wins and was found to have lied in proceedings, leading
to the payout.
A statement from SCA Promotions read: "Lance Armstrong was hit with a record-breaking 10million-dollar sanctions award by the arbitration panel hearing his dispute with Dallas-based SCA Promotions, Inc.