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More bad news for Lance Armstrong as he’s dropped by advertisers

It’s been a tough few months for disgraced bicyclist Lance Armstrong and it looks like things are still getting worse. Nike, Radio Shack, Anheuser-Busch and Giro helmets are all distancing themselves from Armstrong after being found guilty of doping charges and being stripped of his Tour-de-France wins. Nike has said that although they have insurmountable evidence that Armstrong was using performance enhancing drugs and that they were misled by him for over a decade that they would continue to support The Lance Armstrong Foundation, his cancer fighting charity. For years the foundation has had a deal with Nike to promote the ‘Livestrong’ brand and Armstrong has appeared for Nike at retail stores and trade show. Armstrong announced today that he would be stepping down as chairman of the foundation but would remain on the board. Nike has so far refused to comment as to whether they asked that Armstrong step down. Armstrong continues to deny that he has ever used performance enhancing drugs.

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