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.
Although county tax rolls listed the 1.7-acre property's value at $3.9 million, local real estate agents say the house was listed at $10 million. However, in an email to the American-Statesman, Koehler says he paid nothing close to the listed value.
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 has admitted to using performance-enhancing drugs. He was stripped of his seven Tour de France titles in August and is banned for life from sports.
Armstrong "hung all seven of his Tour de France yellow jerseys on the walls of his media room," the newspaper says.
It also reports that Armstrong "took great pride in the 7,850-square foot Spanish-style main home, which he spent two years renovating. He often opened it up for parties and fundraisers for the Livestrong Foundation. He would kick back in his first-floor office with its fireplace and dark leather-covered floors. The master suite on the ground floor also featured a stainless steel fireplace. The walls were covered by the art he picked out and collected."
The house was featured in Architectural Digest magazine in 2008, the American-Statesman says.