Posted: Oct 17, 2012 10:32 AM
Source: Associated Press
NEW YORK - Nike is severing ties with famed cyclist Lance Armstrong, citing insurmountable evidence that he participated in doping and misled the company for more than a decade.
The clothing and footwear company said Wednesday that it was ending Armstrong's contract "with great sadness."
Nike Inc. said it will continue to support the initiatives of Livestrong, a cancer non-profit organization.