Nike, which helped build Lance Armstrong's Livestrong cancer charity into a global brand and introduced its familiar yellow wristband, is cutting ties with the foundation in the latest fallout from the former cyclist's doping scandal. The move ends a relationship that began in 2004 and helped the foundation raise more than $100 million, making the charity's bracelet an international symbol for cancer survivors. The foundation itself had previously severed ties with Armstrong.
Nike said today it will stop making its Livestrong line of apparel after the 2013 holiday season. Foundation and company officials said Nike will honor the financial terms of its contract until it expires in 2014. Nike dropped its personal sponsorship of Armstrong last October after US Anti-Doping Agency broke open the doping scandal. The foundation said it was "deeply grateful" to Nike and remained in good financial shape.