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NILE DROPS PARTNERSHIP WITH ARMSTRONG'S CHARITY LIVESTRONG


Nike has cut its ties to
Livestrong, the Cancer charity founded by disgraced former
cycling champion Lance Armstrong, Livestrong announced yesterday.
In a statement, Livestrong said it was grateful for Nike’s past support and had made alternative plans to secure the
foundation’s future.
Nike had already cut its nine-year promotional ties with
Armstrong in October after the US Anti-Doping Agency
presented clear cut evidence that Armstrong had been the central figure in a wide-ranging doping scandal.
Armstrong admitted earlier this year to taking banned substances that helped him win the Tour de France a record seven times.
The sportswear giant had raised over 100 million for Livestrong, mainly through the
sale and distribution of the yellow armbands that were the charity’s signature item. But Nike will now stop making
products for the charity at the end of the year.
Armstrong, who is a survivor of testicular cancer, founded the
charity in 1997.

Source: Business Line