--- description: Lance Armstrong was told to pay 10 million to Prize Insurer SCA promotions. Watch Know Right Now to find out more. title: Why Lance Armstrong Has to Pay $10 Million to an Insurer image: https://static.time.com/v3/assets/bltea6093859af6183b/bltd2f63e9244860376/69877f96cd1bba62a96f5403/154318377.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Sports](/section/sports/) ## Sports Update your preferences in [Account Settings](/account/preferences/) Close * [Know Right Now](/tag/know-right-now/) ## Know Right Now Update your preferences in [Account Settings](/account/preferences/) Close # Know Right Now: Why Lance Armstrong Has to Pay $10 Million to an Insurer by [TIME Staff](/author/time-staff/) ## TIME Staff Update your preferences in [Account Settings](/account/preferences/) Close Feb 17, 2015 7:07 PM CUT  A picture taken on October 18, 2012 in Paris shows a broken Livestrong wristband, a yellow silicone gel bracelet launched as a fund-raising item for the Lance Armstrong Foundation. Lance Armstrong announced on October 17, 2012 he was stepping down as head of the foundation following the US Anti-Doping Agency (Usada) report published last week. AFP PHOTO/JOEL SAGET (Photo credit should read JOEL SAGET/AFP/Getty Images) A picture taken on October 18, 2012 in Paris shows a broken Livestrong wristband, a yellow silicone gel bracelet launched as a fund-raising item for the Lance Armstrong Foundation. Lance Armstrong announced on October 17, 2012 he was stepping down as head of the foundation following the US Anti-Doping Agency (Usada) report published last week. AFP PHOTO/JOEL SAGET (Photo credit should read JOEL SAGET/AFP/Getty Images)JOEL SAGET—AFP/Getty Images by [TIME Staff](/author/time-staff/) ## TIME Staff Update your preferences in [Account Settings](/account/preferences/) Close Feb 17, 2015 7:07 PM CUT Lance Armstrong [was told to pay $10 million to prize insurer SCA Promotions](http://time.com/3711256/lance-armstrong-10-million/ "undefined") in an arbitration ruling. Watch the Know Right Now above to find out more, and [read more here](http://time.com/3711256/lance-armstrong-10-million/ "undefined"). ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3712127/lance-armstrong-sca-promotions/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3712127/lance-armstrong-sca-promotions/"},"headline":"Know Right Now: Why Lance Armstrong Has to Pay $10 Million to an Insurer","datePublished":"2015-02-17T19:07:07.000Z","dateModified":"2026-02-22T04:28:56.885Z","description":"The disgraced cyclist loses an arbitration ruling","url":"https://time.com/3712127/lance-armstrong-sca-promotions/","keywords":["Know Right Now","Cancer","Cycling","Biking","tour de france"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltd2f63e9244860376/69877f96cd1bba62a96f5403/154318377.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"TIME Staff","jobTitle":null,"url":"https://time.com/author/time-staff/"}],"articleSection":"Sports","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/bltd2f63e9244860376/69877f96cd1bba62a96f5403/154318377.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"CYCLING-USA-FRANCE-ARMSTRONG","caption":"CYCLING-USA-FRANCE-ARMSTRONG","creditText":"JOEL SAGET—AFP/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/sports/","name":"Sports"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/know-right-now/","name":"Know Right Now"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/3712127/lance-armstrong-sca-promotions/","name":"Know Right Now: Why Lance Armstrong Has to Pay $10 Million to an Insurer"}}]}] ```