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, which had been 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 but says Armstrong plans to remain an Austin resident. He provided no other details.