Nike Cuts Ties with Livestrong

Ends nine-year relationship

   

Nike announced Tuesday that it is cutting its ties with Lance Armstrong's Livestrong foundation, ending a nine-year relationship and its renewed commitment to back the charity last October.

Nike helped to create the charity's iconic bracelet, an international symbol for cancer survivors, and raise over $100 million toward cancer awareness.

Armstrong was pushed off the Livestrong board of directors in October. That same month, Nike dropped its personal sponsorship of Armstrong.

According to the Associated Press, the foundation has since cut its yearly budget by 11 percent following the investigation by the U.S. Anti-Doping Agency into Armstrong's admitted doping.

You might be surprised to learn that Livestrong donates almost nothing to scientific research.

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