Lance Armstrong settles with promoter: Report

London: Disgraced former cyclist Lance Armstrong has paid out over $10 million (8.9 million euros) in a settlement to Bob Hamman and his SCA Promotions company, British newspaper the Sunday Times reported.

Armstrong sued Hamman, an American professional bridge player, in 2004 after SCA withheld a payment of $5 million to the cyclist over doping allegations, the paper said, and the company was made to pay the Texan $7.5 million, on top of an earlier payment of $4.5 million.

But with Armstrong having admitted to serial doping offences in 2013 and been stripped of his seven Tour de France titles, the two parties have now reached a settlement.

The Sunday Times said "both parties have agreed not to publicly discuss the terms of the settlement".

Armstrong, 44, and the former owners of his Tailwind Sports team are also facing a case instigated by the US Justice Department that could cost him as much as $90 million.