Lance Armstrong cut off from Nike sponsorship

On the evening of October 17, seven-time Tour de France champion Lance Armstrong announced his resignation as chairman of the Livestrong Foundation, a charity he founded to help cancer patients.

At the same time, Nike - one of Lance Armstrong's main sponsors - cut its sponsorship contract despite previously declaring its support for him.

Lance Armstrong - Photo: Getty Images

Lance Armstrong stepped down as chairman because he wanted the foundation to focus on its current work without being distracted by his troubles. The Lance Armstrong Foundation was established in 1997, a year after Armstrong was diagnosed with cancer. To date, the foundation has raised $500 million to help cancer patients.

In a statement announcing his departure, Lance Armstrong said he and his family "have dedicated their lives to the work of the foundation and that will not change".

When Armstrong was at risk of losing everything due to the 1,000-page report of the US Anti-Doping Agency, Nike - his main sponsor for more than a decade - announced to terminate the contract and added "Nike does not tolerate any use of stimulants, in any form".

The Lance Armstrong Foundation said Armstrong will remain on its board of directors.

According to Tuoitre - DT