Anheuser-Busch dumps Lance Armstrong sponsorship

6:59 AM, Oct 18, 2012   |    comments
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(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.

Associated Press

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