words // Brandon Richard
The wheels continue to fall off for Lance Armstrong, who lost one of his most loyal supporters earlier this morning after Nike announced that it has terminated its agreement with the cyclist. Armstrong had been with the company since 1996.
"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," the company said, in a statement. "Nike does not condone the use of illegal performance enhancing drugs in any manner. Nike plans to continue support of the Livestrong initiatives created to unite, inspire and empower people affected by cancer."
Armstrong also stepped down as the chairman of LIVESTRONG, hoping that the organization can focus on its mission instead of doping allegations.
According to the ESPN report, it is believed that Armstrong is the second athlete to have his contract terminated by Nike, the other being Michael Vick in 2007. Endorsement contracts typically have morals clauses that allow companies to sever their deals with cause.
Nike and the LIVESTRONG Foundation have raised more than $80 million through the sale of yellow wristbands since May 2004. As of Wednesday morning, nearly 100 LIVESTRONG products were available to purchase on Nike's website.
A source told ESPN that Nike will also change the name of the Lance Armstrong Fitness Center building named after Armstrong at Nike headquarters in Beaverton.
This comes just months after removing the name of the Joe Paterno Child Development Center.
