FILE – In this Aug. 22, 2010, file photo, cyclist Lance Armstrong greets fellow riders prior to the start of his Livestrong Challenge 10K ride for cancer in Blue Bell, Pa. Armstrong said Wednesday, Oct. 17, 2012, he is stepping down as chairman of his Livestrong cancer-fighting charity so the group can focus on its mission instead of its founder’s problems. The move came a week after the U.S. Anti-Doping Agency released a massive report detailing allegations of widespread doping by Armstrong and his teams when he won the Tour de France seven consecutive times from 1999 to 2005. (AP Photo/Bradley C Bower, File)NEW YORK – Nike has severed ties with famed cyclist Lance Armstrong, citing insurmountable evidence that he participated in doping and misled the company about those activities for more than a decade.
The clothing and footwear company said Wednesday that it was terminating Armstrong’s contract “with great sadness.”
“Nike does not condone the use of illegal performance enhancing drugs in any manner,” it said in a statement.
Armstrong said Wednesday, just minutes before the announcement from Nike, that he was stepping down as chairman of his Livestrong cancer-fighting charity so that the organization can steer clear of the whirlwind surrounding its founder.
A representative for Armstrong could not be immediately reached for comment.