Armstrong: Nike out, Lance steps down

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Lance Armstrong

Lance Armstrong (AP photo)

NEW YORK (AP) – Nike is severing ties with famed cyclist Lance Armstrong, citing insurmountable evidence that he participated in doping and misled the company for more than a decade.

The clothing and footwear company said Wednesday that it was ending Armstrong’s contract “with great sadness.”

Nike Inc. said it will continue to support the initiatives of Livestrong, a cancer non-profit organization.

   Armstrong stepping down as Livestrong chairman

AUSTIN, Texas (AP) – Lance Armstrong is stepping down as chairman of his Livestrong cancer-fighting charity to it can focus on its mission instead of its founder’s problems.

Armstrong’s announcement came minutes before Nike Inc., announced it is terminating its personal contract with him.

Nike said it a statement that Armstrong had “misled” the company for a decade about doping. The company said it would continue to support Armstrong’s foundation.

The U.S. Anti-Doping Agency released a massive report last week detailing allegations of widespread doping by Armstrong and his teams when he won the Tour de France seven consecutive times from 1999 to 2005.

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