It looks like the apparent lies and deceit may have finally caught up to Lance Armstrong.
Two weeks after the news of all his former USPS cycling teammates snitching on him to the USADA, things are starting to fall down around Armstrong.
The New York Times is reporting that Nike Inc, has terminated its endorsement deal with the former cyclist, and Armstrong stepped down as the Chairman of Livestrong this morning.
Armstrong released a brief statement on the matter this morning.
“I have had the great honor of serving as this foundation’s chairman for the last five years and its mission and success are my top priorities,” Armstrong said in a statement. “Today therefore, to spare the foundation any negative effects as a result of controversy surrounding my cycling career, I will conclude my chairmanship.”
Nike representatives also released a statement.
“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 is the second athlete to ever have his contract terminated by Nike.
The other of course was Michael Vick in 2007. Vick of course has now redeemed himself and was re-signed by the company in 2011.