UPDATE: Lance gives up leading Livestrong, Nike gives up Lance

What would Livestrong be without Lance Armstrong? We're about to find out. Armstrong has resigned as chairman of his "cancer-fighting charity" that he founded in 1997 after his own cancer diagnosis. "To spare the foundation any negative effects as a result of controversy surrounding my cycling career, I will conclude my chairmanship," he said in a statement. Shortly after Armstrong's words were released, longtime sponsor Nike released him, saying it'll take his name off its on-campus Lance Armstrong Fitness Center. "Due to the seemingly insurmountable evidence that Lance Armstrong participated in doping and misled Nike for more than a decade ... we have terminated our contract with him," Nike's statement read. You can get rid of that faded Livestrong bracelet now. [Source]

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