Lance Armstrong prepares to take part in the Power of Four mountain bicycle race, Snowmass Village, Colo. Aug. 25, 2012.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
AUSTIN, Texas (AP) -- Lance Armstrong is stepping down as chairman of his Livestrong cancer-fighting charity to help it limit the damage from the doping scandal that has snared the former champion cyclist.
Armstrong announced the move Wednesday, a week after the U.S. Anti-Doping Agency released a massive report detailing allegations of widespread performance-enhancing drug use by Armstrong and his teams. The document included testimony from 11 former teammates. USADA has ordered 14 years of Armstrong's career results erased, including his seven Tour de France titles.
The Lance Armstrong Foundation, commonly known as Livestrong, was founded in 1997 and has raised roughly $500 million to support cancer patients. The group has scheduled its 15th anniversary celebration for this weekend. Armstrong will stay on the charity's board.
A cancer survivor, Armstrong strongly denies doping and says he quit fighting USADA because its hearing process was unfair.
Meanwhile, Nike is severing ties with the famed cyclist, citing insurmountable evidence that he participated in doping and misled the company for more than a decade.
The clothing and footwear company said Wednesday that it was ending Armstrong's contract "with great sadness."
Nike Inc. said it will continue to support the initiatives of Livestrong, a cancer non-profit organization.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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