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By Chineze Ogugua

Lance Armstrong has finally decided to settle his $100m US government lawsuit for $5m.

Lance Armstrong

The 46-year old was accused of fraud by cheating while riding for the US Postal Service team.

Armstrong who has won six of his seven Tour de France titles with US Postal before he was stripped of them all, agreed to pay $5M to the US government to settle the long-running lawsuit.

In a statement on Thursday, he said he was glad to have made peace with the Postal Service despite believing their lawsuit to be “without merit and unfair”.

“I’m glad to resolve this case and move forward with my life.

“I’m looking forward to devoting myself to the many great things in my life – my five kids, my wife, my podcast, several exciting writing and film projects, my work as a cancer survivor, and my passion for sports and competition”

Armstrong was stripped of his Tour de France titles in 2012.

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