Nike drops Lance Armstrong, who quits role with his charity

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Nike announced it dropped 7-time Tour de France champion Lance Armstrong from its list of endorsers.

In a statement, Nike said the evidence that Armstrong used performance enhancing drugs was “insurmountable” and that the cyclist had misled the company for more than a decade. In the same statement Nike re-affirmed support for the Lance Armstrong Foundation, “Livestrong” a charity that provides support to people fighting cancer. Armstrong, a cancer survivor founded the organization in 1997. Armstrong stepped down as chairman of the organization.

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