Lance Armstrong sells estate in Texas after doping scandal
According to a deed of trust filed in Texas, Lance Armstrong has sold his Austin estate. The disgraced cyclist has had his 1.7-acre home listed at $10 million according to local real estate agents, and oil-and-gas rights agent Al Koehler recently took out a $3.1 million loan to buy the land.
Armstrong's spokesman confirmed the sale of Armstrong's property to the Associated Press. However, Koehler tells The Austin American-Statesman he played nothing close to the $10 million the home was listed at. The property was valued at $3.9 million.
Koehler founded Royalty Clearinghouse, a company that buys oil and gas royalties and mineral rights for its clients. He told the American-Statesman that he's "glad this house stayed with a loyal Austinite." Armstrong's rep confirms that Armstrong will remain an Austin resident even though he sold his estate.
In a 2008 interview with Architectural Digest, Armstrong opened up about how much he loved his estate. "When I walk into that house, I heave a sigh of relief: I am home. I take off my shoes, walk around barefoot, just feeling the rugs, floors. Home is very private; here, nobody's going to mess with me," he said. That was before he admitted to using performance-enhancing drugs while racing and was banned from the sport for life.