Lance Armstrong has had a rough couple of years. Once the most beloved athlete in the U.S. for his story of overcoming cancer to become a seven-time Tour de France winner, the cyclist has now fallen into disgrace. After years of litigation, the International Cycling Union (UCI) and the U.S. Anti-Doping Agency last year stripped Armstrong of his titles and banned him from the sport of cycling. Armstrong has lost the support of sponsors and is now facing several lawsuits related to the doping scandal. He recently gave an interview with Oprah Winfrey in which he issued an apology and admitted to doping.
This week, the Austin American-Statesman is reporting that Armstrong has sold his 1.7-acre estate in Austin, Texas. The report stated that Al Koehler, the founder of Royalty Clearinghouse, has taken out a $3.1 million loan to purchase Armstrong's estate, which includes a 7,850-square foot house.
Armstrong bought the estate in 2004 and renovated it, hanging his seven yellow Tour de France victory jersey's on the walls of the house. The athlete also owns a home on Hawaii's Big Island.
Armstrong was recently spotted in Los Angeles and is rumored to be in talks with movie studios over a biopic of his life. If the cyclist is planning a more permanent move to L.A., he could look into buying the infamous Playboy Bunny House, which just went up for sale and is located directly across the street from the Playboy Mansion.