Source: AP / Yahoo! News
AUSTIN, Texas — Nike, which helped build Lance Armstrong’s Livestrong cancer charity into a global brand and introduced its familiar yellow wristband, is cutting ties with the foundation in the latest fallout from the former cyclist’s doping scandal.
The move by the sports shoe and clothing company ends a nine-year relationship that helped the foundation raise more than $100 million and made the charity’s bracelet an international symbol for cancer survivors.
But the relationship soured with revelations of performance-enhancing drug use by Armstrong and members of his U.S. Postal Service team.
Nike dropped its personal sponsorship of Armstrong last October after U.S. Anti-Doping Agency exposed the team doping program and portrayed Armstrong as its ringleader. And after years of denials, Armstrong admitted earlier this year he used performance-enhancing drugs to win the Tour de France seven times.
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