Disgraced US cyclist Lance Armstrong, who is the subject of multiple lawsuits after confessing to doping, has sold his property in Austin, it was reported Thursday. The Austin American Statesman reported that Armstrong had sold the luxurious 1.7-acre Spanish-style estate he bought in 2004 but planned to continue living in the Texas city. Armstrong, who has been stripped of his seven Tour de France titles and abandoned by former sponsors after finally admitting he took performance-enhancing drugs, sold the property to a Texas oilman, Al Koehler.

Lance Armstrong was facing two more lawsuits on Friday in the wake of his admission that all seven of his Tour de France victories were fueled by banned drugs. The Nebraska-based Acceptance Insurance Company sued Armstrong and Tailwind Sports Corporation claiming Armstrong commited fraud by concealing his use of performance-enhancing drugs during the 1999, 2000 and 2001 Tours. Armstrong was also sued in federal court in Los Angeles on Thursday in a class-action lawsuit claiming Armstrong and FRS -- a maker of nutritional supplements -- engaged in false advertising.

Following is a summary of current sports news briefs. U.S. sues disgraced cyclist Armstrong for sponsor money

* Postal Service sponsorship valued at more than $30 million * "Years of broken promises" U.S. Attorney says * Postal Service benefited from sponsorship, defense says (Adds other cases, expert comment) By David Ingram WASHINGTON, Feb 22 (Reuters) - The United States accused cyclist Lance Armstrong on Friday of defrauding the U.S. Postal Service by taking its sponsorship money at the same time he was doping and using performance-enhancing drugs in violation of cycling rules.