Sponsors drop Lance Armstrong

01 Feb 2016 | Admin Author

Sponsors are stampeding away from endorsement deals with doping-disgraced US cyclist Lance Armstrong, who also stepped down yesterday as chairman of the Livestrong anti-cancer charity he
founded.

Armstrong was issued a life ban and stripped of seven Tour de France titles in August by the US Anti-Doping Agency which last week revealed 1,000 pages of evidence against him, including testimony from 11 former teammates.

Sponsors to pull their support included sportswear maker Nike, 24-Hour Fitness health clubs, brewers Anheuser-Busch, Honey Stinger products and Trek bicycles -- the brand Armstrong rode to seven Tour de France victories only to lose them all.

Nike said in a statement that 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 the company terminate its contract with him.