Nike says "insurmountable evidence that Lance Armstrong participated in doping" has caused the volte face.

Nike terminates toxic sponsorship contract with Lance Armstrong

Lance Armstrong’s sponsorship contract with Nike has been terminated by the Oregon-based sportswear company.

A statement from Nike said:

"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."

Earlier in the day it was revealed that Armstrong has stood down as the chairman of Livestrong, the cancer charity he helped found.

Nike’s statement added:

"Nike plans to continue support of the Livestrong initiatives created to unite, inspire and empower people affected by cancer." 

Prior to the release of USADA’s "reasoned decision" – a large body of evidence detailing a decade or more of doping abuses – Armstrong’s long-term sponsors had offered support to the world’s most famous cyclist. Oakley and bike maker Trek have yet to pull their support of Armstrong.

Trek has been Armstrong’s bicycle sponsor since 1998. Armstrong has shares in Trek.

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