Floyd Landis Says He May Need To Declare Bankruptcy

Floyd Landis Says He Is Near Bankrupcy

Cyclist Floyd Landis, who failed a doping test after winning the ’06 Tour de France, indicated that he has “lost almost $10[M] in potential earnings and might need to declare bankruptcy,” according to Mason Levinson of BLOOMBERG NEWS. Landis said that his legal defense against the doping charges has cost more than $1M, “about half of which has been paid through donations.” He added that all prize money from the Tour de France, including the $818,000 winner’s share, “has been frozen.” He also said he lost more than $3M from the termination of his contract with the Phonak cycling team, had direct losses of about $2M in canceled endorsements and another $3-4M from sponsorships that he was negotiating (BLOOMBERG NEWS, 4/26).