When Lance Armstrong survived his bout with testicular cancer, agent Bill Stapleton saw an opportunity. "Lance isn't just a cyclist anymore," he said at the time. "Because of the cancer … he's on the verge of being a crossover-type spokesman." Stapleton, who works with Capital Sports & Entertainment, helped form the Livestrong charity to bolster that brand, and ever since Armstrong's business interests have been tied closely to the foundation's, the New York Times reports.
Since 2010, Livestrong has paid $423,000 in fees to Capital Sports, which is notable because Armstrong isn't just a Capital client, he's also a minority shareholder. There have also been numerous instances of Livestrong striking deals that appeared to benefit Armstrong or his associates, like the time the charity sold the right to use its name to Bristol-Myers Squibb, which also hired Armstrong as a spokesman. In another more controversial instance, Demand Media hired Armstrong as a spokesman, then struck a deal to develop a for-profit Livestrong site. "There was a conflict. I felt there was," says one former Livestrong executive. For the Times' full piece, click here.