The Lance Armstrong saga continues to drag itself out. The 41-year-old disgraced cyclist is scheduled to appear on Oprah's Next Chapter on January 17th. The interview will take place at Armstrong's Austin home and will be the first "no-holds-barred interview" since Armstrong was stripped of his 7 Tour de France wins and dropped by sponsors. In a press release by, Armstrong will "address the alleged doping scandal, years of accusations of cheating, and charges of lying about the use of performance-enhancing drugs throughout his storied cycling career."

A report from the New York Times came out late last week that Armstrong had been weighing a decision to admit to doping in hopes of a reduced ban on competing in sanctioned events. Admitting guilt does come with quite a few consequences though. Armstrong and his lawyers are said to be worried he could face charges of perjury if he confesses. In 2004 Armstrong under oath during sworn testimony said he had never doped. By admitting guilt now, the reversal would allow not only SCA Promotions, the firm that withheld the $5 million bonus from Armstrong after he won the 2004 Tour because of doping accusations, but also the British newspaper The Sunday Times to recoup monies they paid Armstrong after Armstrong sued for libel. Things could also get trickier for Armstrong should the Justice Department decide to join the whistle-blower lawsuit brought on by Floyd Landis. In which Landis could collect up to 30 percent of any money won in that case. The teams contract with the US Postal service is said to be upwards of 30 million dollars during the years in question.

The special 90-minute episode of Oprah's Next Chapter will air Thursday, January 17, from 9 to 10:30 p.m. ET/PT on OWN: The Oprah Winfrey Network. In addition, the interview will be simultaneously streamed LIVE worldwide on