Lance Armstrong Steps Down From Livestrong Charity, Nike Drops Sponsorship

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Lance Armstrong stepped down as chairman of the Livestrong cancer support charity he founded, as Nike Inc. dropped the disgraced cyclist over the doping scandal that will likely cost him his seven Tour de France titles.


Armstrong's Livestrong foundation is best known for the more than 70 million iconic yellow rubbery wrist bands that have been distributed worldwide, but the scandal threatened to overshadow the group's wider work with cancer patients.


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