Seven-time Tour de France winner Lance Armstrong has announced that he is stepping down from his position as chairman of the Livestrong Foundation after continued allegations that he had used performance-enhancing drugs during his racing career.
Armstrong announced his decision Wednesday, saying that he is resigning so the Livestrong charity group can better focus on its own mission and not the problems of its founder, the Washington Post reported. Armstrong said that he wishes "to spare the foundation any negative effects as a result of controversy surrounding my cycling career."
The U.S. Anti-Doping Agency said Friday that it was banning Armstrong for life and stripping him of his Tour de France titles, reported CBS News. The UCI, the cycling world's governing body, may give its response Monday as to whether the cycling champion will be striped of his titles.
Armstrong has already lost several of his sponsors, including Nike and Anheuser-Busch, reported CBS News. The cyclist also lost the support of Trek, the company responsible for building his bicycles.