17 October 2012

AUSTIN / USA / FRANCE : 18 Oct. UPDATE: 6 More Sponsors Join Nike In Dropping Lance Armstrong; Armstrong Resigns As Head Of 'Livestrong' Charity; Cycling Agency Under Attack.


     Loyalty apparently does have a limit...as giant global brand Nike finally said goodbye to beleaguered cyclist Lance Armstrong...because of mounting doping allegations.
     Nike has been joined...by 6 other sponsors...including Radio Shack and even Trek Bikes.
     Armstrong also announced he was stepping down from his unpaid position as chairman of Austin-based cancer awareness charity...LIVESTRONG.
     The charity claims Armstrong has raised almost $500 million for cancer research and support since he founded it in 1997....often by selling over 70 million iconic rubbery yellow wrist bands.
     Nike has sponsored Armstrong since 1996.
     Nike says it was 'misled' by the 7 time consecutive Tour de France winner...but would continue to support the charity.
    Another sponsor...optical company Oakley...says it is still reviewing the recent damaging  1,000 page USADA doping report.
     Beverage giant Anheuser-Busch says it will not renew its sponsorship deal when Armstrong's contract ends this year.
    Some observers believe Armstrong will lose more than $50 million in the next 5 years from cancelled sponsorship deals.
      ALSO : The International Cycling Union/UCI is coming under attack for letting Armstrong get way with his alleged doping for over a decade.