Lance Armstrong and Nike Split Ways

Nike yesterday has made the decision to split ways with Lance Armstrong for the dopping fresco that surrounds the the athlete.

Last week U.S. anti-doping officials released a scathing 1,000-page report that accused Armstrong of doping and supplying ex-teammates with illegal substances as part of an elaborate scheme. Armstrong has denied taking banned substances.

Nike says that it doesn't condone the use of performance enhancing drugs that is why Lance Armstrong and Nike split ways . Nike is sad for having to terminate Lance's contract with them. The company has also said that they will continue to support the Live Strong campaign because it empowers people with cancer. 

RadioShack has also said that they have no obligations to Lance Armstrong. They signed a deal with Lance Armstrong back in 2009 and RadioShack didn't tell when the contract ended. 

Lance Armstrong has stepped down from chairman of Live Strong because he doesn't want any negative impression on the brand. Jeff Gravey is the new foundations chairman. While Lance was the chairman he has raised $500 million for the foundation.