Investment in Uber saved my family, says disgraced ex-cycling champion, Armstrong

Former cycling champion Lance Armstrong , whose fall from grace cost him millions of dollars in lawsuits and endorsements , said his investment in Uber Technologies Inc . had saved his family .Armstrong , who was stripped of his seven Tour de France titles and banned for life from the sport for doping , gave $ 100 , 000 to a venture capital fund .

According to a CNBC report on Thursday , the fund was invested in the ride – hailing company around 2009 .

“ It’ s saved our family , ” Armstrong said in the interview .

He said he was not aware he was investing in Uber , which was then worth $ 3 . 7 m , when he gave money to venture capitalist Chris Sacca of Lowercase Capital .

Uber , which is preparing to go public next year , could be valued at $ 120 bn , according to proposals made by U. S . banks bidding to run the offering .

Armstrong did not disclose how much his investment in Uber is currently worth , saying “ it ’ s a lot more ” and “ it ’ s too good to be true. ”

When asked by the interviewer if he had made “ 10 , 20 , 30 , 40 or $ 50 million , ” Armstrong replied : “ It ’ s one of those. It’ s a lot , it ’ s a lot . ”

Armstrong won the Tour de France a record seven times , but was stripped of his titles and banned for life in 2012 by the U. S . Anti – Doping Agency .

This was after it accused him of engineering one of the most sophisticated doping schemes in sports .

The American later admitted to the cheating in a January 2013 televised interview with Oprah Winfrey .

( Reuters / NAN )

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