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Bas Czerwinski/Associated Press

Lance Armstrong agreed to a $5 million settlement with the United States federal government to end a lawsuit seeking up to $100 million in damages, per the Associated Press (via ESPN).

The seven-time Tour de France winner, who was stripped of his records after admitting to the use of performance-enhancing drugs, provided a statement Thursday regarding the settlement:

“While I believe that their lawsuit against me was meritless and unfair, and while I am spending a lot of money to resolve it, I have since 2013 tried to take full responsibility for my mistakes and inappropriate conduct, and make amends wherever possible. I rode my heart out for the Postal cycling team, and was always especially proud to wear the red, white and blue eagle on my chest when competing in the Tour de France. Those memories are very real and mean a lot to me.”

He also said he is happy he “made peace with the Postal Service,” which sponsored him during his cycling career.

        

This article will be updated to provide more information on this story as it becomes available.

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