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 , Associated Press

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

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.”

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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.

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