(Photo by Joe Raedle/Getty Images)
UNDATED (AP) - Nike, Anheuser-Busch and 24-Hour Fitness all severed ties with famed cyclist Lance Armstrong, following evidence that he participated in doping and misled the company for more than a decade.
Nike said it will continue to support the initiatives of Livestrong, a cancer nonprofit organization.
Armstrong has stepped down as chairman of his Livestrong cancer-fighting charity so it can focus on its mission instead of its founder's problems.
The U.S. Anti-Doping Agency released a massive report last week detailing allegations of widespread doping by Armstrong and his teams when he won the Tour de France seven consecutive times from 1999 to 2005.