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Lance Armstrong steps down as chair of Livestrong charity

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  • Description

    Nike, RadioShack cut ties with cyclist

  • Duration 3:11
  • Date

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-- is -- and former cycling legend Lance Armstrong is having a very bad day in this morning he stepped down as chairman of his live strong cancer fighting charity.

You know the one behind -- little yellow bracelets within hours both Nike and RadioShack had cut ties with him.

This all comes after an investigation by the US Anti Doping Agency and the group's decision to ban Armstrong from cycling for life.

And strip him of all his tour France titles.

Armstrong has repeatedly denied doping but Nike released a statement which reads in part.

Due to the seemingly insurmountable evidence that Lance Armstrong participated in doping.

And misled Nike for more than a decade is with great sadness that we have terminated our contract with him.

Nike representatives say the company will continue to support a live strong.

Trace Gallagher Trace so far West Coast news hub Trace Armstrong says.

He stepped down as live strong chairman -- spare the foundation from controversy.

Yet -- try to live strong let's make it very clear job that they did not ask Lance I was trying to set aside is that they're saying that it was all Lance is idea.

Live strong has been a very strong defender of Lance Armstrong throughout this entire ordeal and they continue to do so today.

Saying that cancer patients and their families are not troubled at all by Lance Armstrong's -- -- but clearly.

Lance Armstrong believes that he is now a distraction issuing a statement that said quoting here.

Today therefore to spare the foundation any negative effects as a result of controversy surrounding my cycling career.

I will conclude my chairmanship we should point out that Lance Armstrong.

Remains on the board of live strong that he will leave -- attend this weekend's charity bike race in Texas job and Nike and RadioShack are not the only ones dropping Armstrong.

As we know this was like dominoes when that Lance Armstrong quit -- strong a few minutes later Nike dropped him in that RadioShack dropped him and now we have learned that Anheuser-Busch issued a statement today saying.

They will end their relationship -- Lance Armstrong by the end of the year but.

RadioShack and Anheuser-Busch can walk away but Nike is now being accused.

Of covering up this doping scandal by paying off an international cycling authority.

To cover up a test that Lance Armstrong failed back in 1999.

Nike issued a statement saying.

Quoting here to day.

Are rather Nike vehemently denies that it paid former UC -- president.

Behind were broken 500000 dollars to cover up a positive drug test.

Nike does not condone the use of illegal performance enhancing drugs and analysts also do not believe the charges -- 500000 dollars in the grand scheme of things is a drop in the bucket for some -- corporation like Nike but.

500000 dollars vs just untold amounts of bad publicity and legal action and just don't really see.

How much of self interest Nike would put into doing something that.

That said the investigation will certainly go on and experts say don't be surprised at the lawsuits begin to fly.

John sad -- in sports Tracy Gallagher thank you.

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