Nike/Anheuser-Busch InBev: Dropping Armstrong

A week after the U.S. Anti-Doping Agency detailed Lance Armstrong’s alleged use of performance-enhancing substances, Nike and Anheuser-Busch InBev pulled the plug on endorsing the cyclist. Nike said it was ending Armstrong’s contract, and Anheuser-Busch said it won’t renew his contract at yearend. Both will continue to support his Livestrong foundation, which helps people affected by cancer. They had stood by Armstrong even after the USADA stripped him of his record seven Tour de France titles in August. Separately, Armstrong announced he was stepping down as chairman of Livestrong. He has repeatedly denied doping, saying he has never failed a drug test.

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