Skip to: Content
Skip to: Site Navigation
Skip to: Search


Lance Armstrong sells $10 million estate, but for how much? (+video)

Lance Armstrong sold his 8,000 square foot home in Austin, Texas. But the buyer says he paid a lot less than Lance Armstrong's $10 million listing price.

By StaffAssociated Press / April 11, 2013


Austin, Texas

Disgraced cyclist Lance Armstrong has sold his Austin estate to an oil-and-gas rights agent.

Skip to next paragraph

The  Austin American-Statesman reports a deed of trust filed with Travis County last week showed Al Koehler obtained a $3.1 million loan to buy the property, Armstrong's home since 2004. The home was listed at $10 million.

“I’m glad this house stayed with a loyal Austinite,” Koehler said in an email to the American-Statesman. “We can do a lot of good for the city of Austin with this home. … I didn’t pay anything close to that (listing), but the Austin rumor mill is what it is.”

The house was featured in Architectural Digest magazine in 2008. He told the magazine, “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. It’s a very comforting feeling.”

Koehler is a founder of Royalty Clearinghouse, which buys oil and gas royalties and mineral rights on behalf of clients.

Armstrong spokesman Mark Higgins confirmed the sale and says Armstrong plans to remain an Austin resident.

Armstrong was stripped of his seven Tour de France titles in August and is banned for life from the sport.

___

  • Weekly review of global news and ideas
  • Balanced, insightful and trustworthy
  • Subscribe in print or digital

Special Offer

 

Doing Good

 

What happens when ordinary people decide to pay it forward? Extraordinary change...

Danny Bent poses at the starting line of the Boston Marathon in Hopkinton, Mass.

After the Boston Marathon bombings, Danny Bent took on a cross-country challenge

The athlete-adventurer co-founded a relay run called One Run for Boston that started in Los Angeles and ended at the marathon finish line to raise funds for victims.

 
 
Become a fan! Follow us! Google+ YouTube See our feeds!