Lance Armstrong, one of the most famous sports stars in the world was dropped by American clothing and footwear company, Nike, his largest corporate sponsor. He was also forced to drop his position as chairman of the cancer charity he founded 15 years ago. In addition to all that, three other companies declared that they would cut commercial dealings with the athlete.
What lead to all these cut dealings? Armstrong was published in a 1000 dossier demonstrating his serial drug cheat. Consequently, Nike has cut founding even after its pledge for continued support which they agreed to just six days shy of the release of the shameful publication. Nike’s pledge is alleged to be worth $7.5 million (£4.6 million) a year.
Nike bluntly expressed its revulsion at Armstrong’s dishonesty: “Due to the seemingly insurmountable evidence that Lance Armstrong participated in doping and misled Nike for more than a decade, it is with great sadness that we have terminated our contract with him.
Nike does not condone the use of illegal performance enhancing drugs in any manner.”
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