Lance Armstrong Unlikely to Face ClawbacksBy
When Oakley severed its “long-standing relationship” with Lance Armstrong today, citing the the International Cycling Union’s decision to strip the now former champion of his seven Tour de France titles, it was the last big domino to fall in Armstrong’s sponsor lineup. The biggest, Nike, fell last week. Anheuser-Busch InBev, Trek bicycles, and energy supplement makers FRS and Honey Stinger have also dropped Armstrong. Burns Entertainment & Sports Marketing, which tracks endorsement income for U.S. celebrities, estimates that Armstrong made $15 million to $18 million from endorsements in 2011, with $8 million to $12 million coming from Nike. Next year, unless there are companies looking to get behind a disgraced hero, that figure will be close to zero. The tens of millions he has already pocketed, however, are probably not going back to the sponsors.
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