Nike announced today that they had terminated Armstrong's endorsement deal.
"Due to the seemingly insurmountable evidence that Lance Armstrong participated in doping and misled Nike for more than a decade, it is with great sadness that we have terminated our contract with him. Nike does not condone the use of illegal performance-enhancing drugs in any manner. Nike plans to continue support of the Livestrong initiatives created to unite, inspire and empower people affected by cancer." -Nike announcement
Along with losing the Nike endorsement, Armstrong stepped down as chairman of Livestrong today so that the organization could focus on its mission. Trek, the company that supplied Armstrong's bikes, Anheuser Busch, Michelob Ultrasound, and FRS, energy drink company, have also parted ways with Armstrong in light of Armstrong's doping allegations.
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