AUSTIN, Texas – Lance Armstrong announced Wednesday morning he is stepping down as the chairman of his Livestrong charity. The embattled cyclist said the move was made so the cancer-fighting charity would be able to focus on its mission, rather than deal with Armstrong's problems.
The announcement came just ahead of news from Nike, which announced on Wednesday the company is severing its long-running endorsement deal with Armstrong. The Oregon-based company had long been a supporter of Armstrong even through the many allegations he has faced over the years. Nike did say it would maintain its support of Livestrong.
The moves comes just days after the U.S. Anti-Doping Agency released a thorough report detailing a massive doping scandal involving Armstrong and his various teams and teammates through the years. The report including sworn testimony from eleven of Armstrong's past teammates that implicated the cyclist who won seven Tour de France titles from 1999 to 2005, which have since been stripped.
