Nike Inc. announced Wednesday it will end its contract with Lance Armstrong, an endorsement deal that once earned the embattled cycling star millions of dollars.
The move comes a week after the U.S. Anti-Doping Agency released reports that outlined the extent of doping allegations made against Armstrong when he won the Tour de France seven years in a row from 1999 to 2005. The USADA banned Armstrong from cycling for life and stripped him of the titles he earned during his 14-year career, including those Tour wins.
The company will also take Armstrong's name off of the fitness center on Nike's campus in Oregon, according to KeJuan Wilkins, a spokesperson for the athletic gear maker.
Niki Touble in China Video & Read More: http://money.cnn.com/2012/10/17/news/companies/nike-lance-armstrong/?hpt=hp_c2
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