lance-armstrong-dropped-by-sponsors-nike-doping-cycling-pics-photos-steps-down-livestrong-getty.jpgAfter Lance Armstrong stepped down as chairman of his Livestrong charity Wednesday (Oct. 17), Nike Inc. opted to end its contract with the athlete in the wake of doping allegations and evidence against the accomplished cyclist. Additionally, Anheuser-Busch, Easton-Bell Sports Inc., Trek Bicycles, FRS sports drinks and 24 Hour Fitness all followed suit and severed ties with Armstrong.

“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 says in a statement.

Another of Armstrong’s former sponsors, RadioShack, released a statement saying it has “no current obligations” with the cyclist. And Colorado energy foods company Honey Stinger says in a statement, “We are in the process of removing Lance Armstrong’s image and endorsement from our product packaging.”

The fallout comes a week after the U.S. Anti-Doping Agency (USADA) released evidence showing Armstrong used banned drugs and blood transfusions throughout his cycling career. In August, the agency had banned Armstrong from the sport for life and stripped him of his seven Tour de France titles after he declined to fight the charges against him.

Do you agree with the sponsors’ decision to drop Armstrong?

Posted by:Jennifer Harper