Armstrong Severs Livestrong Ties a bid to keep charity afloat
By Matt Cantor,  Newser User
Posted Nov 12, 2012 9:57 AM CST
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)

(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." (Read more Lance Armstrong stories.)

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