Armstrong Severs Livestrong Ties

...in a bid to keep charity afloat

By Matt Cantor,  Newser Staff

Posted Nov 12, 2012 9:57 AM CST

(Newser) – Last month, Lance Armstrong stepped down as chairman of the Livestrong board; now, he's severing all official ties to the charity. The cyclist had initially retained a seat on the board; on Nov. 4, he gave it up, the AP reports. But Armstrong "remains the inspiration" for the foundation, says a rep for the group, and he is still its biggest donor, having given a total of almost $7 million to the charity. But donations are what's behind the move, explains Bloomberg. In an email sent yesterday, Livestrong's chair wrote that the cyclist quit "to spare the organization any negative effects as a result of controversy surrounding his cycling career"—or, as Bloomberg put it, to "save donations."

In this July 24, 2005 file photo, Lance Armstrong carries the United States flag during a victory parade on the Champs Elysees in Paris after winning his seventh straight Tour de France.
In this July 24, 2005 file photo, Lance Armstrong carries the United States flag during a victory parade on the Champs Elysees in Paris after winning his seventh straight Tour de France.   (AP Photo/Peter Dejong, File)
« Prev« Prev | Next »Next » Slideshow
My TakeCLICK BELOW TO VOTE
10%
21%
5%
46%
13%
5%
To report an error on this story, notify our editors.

NEWS FROM OUR PARTNERS
Other Sites We Like:   The Street   |   MSN Living   |   PopSugar Tech   |   RealClear   |   24/7 Wall St.   |   Biography   |   Barstool Sports   |   OK!