Skip to footer

Lance Armstrong sells $10 million estate, but for how much?

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 Staff Associated Press

| Austin, Texas

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.”

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.

___

You've read  of  free articles. Subscribe to continue.
Real news can be honest, hopeful, credible, constructive.
What is the Monitor difference? Tackling the tough headlines – with humanity. Listening to sources – with respect. Seeing the story that others are missing by reporting what so often gets overlooked: the values that connect us. That’s Monitor reporting – news that changes how you see the world.
editor@csmonitor.com
Subscribe
Mark Sappenfield
Editor

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

Subscribe to insightful journalism

QR Code to Lance Armstrong sells $10 million estate, but for how much?
Read this article in
https://www.csmonitor.com/Business/Latest-News-Wires/2013/0411/Lance-Armstrong-sells-10-million-estate-but-for-how-much
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe