Nike Drops Lance Armstrong Endorsement Deal

As more details of doping allegations emerge

Nike Inc. announced Wednesday it will end its contract with Lance Armstrong, an endorsement deal that once earned the embattled cycling star millions of dollars.

The move comes a week after the U.S. Anti-Doping Agency released reports that outlined the extent of doping allegations made against Armstrong when he won the Tour de France seven years in a row from 1999 to 2005. The USADA banned Armstrong from cycling for life and stripped him of the titles he earned during his 14-year career, including those Tour wins.