Lance Armstrong has stepped down from his position as chairman of his well-known cancer-fighting charity, Livestrong and Nike has cut ties with Armstrong as fallout from Armstrong's doping scandal escalated Wednesday.
"Shortly after Armstrong announced his resignation as chair of the charity, Nike released a statement announcing they would no longer have any ties with the cycling legend, however, they will continue to support Livestrong," said the Huffington Post.
This news comes a week after the United States Anti-Doping Agency made its evidence of Armstrong being the linch-pin of an organized doping program on his Tour de France winning teams public.
Nike, which has stood by Armstrong for more than a decade of doping allegations, was prompted by "insurmountable evidence" to terminate their contract with Armstrong according to the New York Times.
With Armstrong stepping down as chair, vice chairman, Jeff Garvey, will step up and assume Armstrong's duties. However, Armstrong will still remain on the board.