NEW YORK (AP) — Nike has severed ties with famed cyclist Lance Armstrong, citing insurmountable evidence that he participated in doping and misled the company about those activities for more than a decade.

The clothing and footwear company said today that it terminated Armstrong’s contract “with great sadness.”

“Nike does not condone the use of illegal performance enhancing drugs in any manner,” it said in a statement.

Armstrong said today, just minutes before the announcement from Nike, that he was stepping down as chairman of his Livestrong cancer-fighting charity so that the organization can steer clear of the whirlwind surrounding its founder.

Nike Inc., based in Beaverton, Ore., said it plans to continue its support for Livestrong.



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