WOW !!!
Nike has elected to terminate their partnership with Lance Armstrong, the Tour De France dominating cyclist who had been a part of the Nike family for over a decade. The move comes as a reaction to the ongoing doping controversy surrounding Armstrong, with the US Anti-Doping Agency just last week releasing a particularly damning report that included allegations of foul play and testimony from 11 former teammates. Nike has reported that they will continue to support the initiatives of the Livestrong Foundationwhere Lance Armstrong recently stepped down from his position as chairman.
via Nike INC:
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.
via WSJ:
The Lance Armstrong Foundation has a contract with Nike to license the Livestrong brand for Nike’s Livestrong collection of clothing, shoes and other merchandise. A spokeswoman for the foundation says it doesn’t have plans to change its name.