Lance Armstrong lost his endorsement with Nike, Wednesday, which coincided with him stepping down as chairman of Livestrong.
According to CNN, Nike said the reason for dropping Armstrong from contract was due to “seemingly insurmountable evidence” for doping.
“It is with great sadness that we have terminated our contract with him,” the company said in a statement.
Armstrong stepped down as chairman of Livestrong so that the organization could shift its focus on its mission instead of doping allegations, according to ESPN.
“It has been a great privilege to help grow it from a dream into an organization that today has served 2.5 million people,” said Armstrong in a statement.
Jeff Garvey, current vice chairman of Livestrong, will serve as chairman in place of Armstrong.
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