Lance Armstrong has agreed to pay $5 million in order to settle the looming federal fraud case stemming from his drug-fuelled reign as king of the Tour de France, it was confirmed.
The former cycling superstar was due to face a trial next month over claims he defrauded the US government when he doped while racing for his United States Postal Service-sponsored team.
The Postal Service and former team-mate Floyd Landis had sought around $100 million in damages from Armstrong in the case, which was due to get under way on May 7.
However the prospect of a ruinous judgement going against the cancer survivor was averted after Armstrong's lawyers and the US Justice Department brokered a settlement.
"No one is above the law," US Justice Department lawyer Chad Readler said in a statement announcing the deal.
"This settlement demonstrates that those who cheat the government will be held accountable."
Armstrong's attorney Elliot Peters said in a statement the settlement "ends all litigation against Armstrong related to his 2013 admission that during his career as a professional cyclist he had used performance enhancing substances."
"I'm looking forward to devoting myself to the many great things in my life - my five kids, my wife, my podcast, several exciting writing and film projects, my work as a cancer survivor, and my passion for sports and competition. There is a lot to look forward to."
- 'Full responsibility' -
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