Nike severs ties with Livestrong cancer charity

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(WTVM) - Last fall, Nike ended its contract with controversial cyclist Lance Armstrong, the founder of Livestrong. In another blow, Nike will cease production of Livestrong products after the 2013 holiday season but will continue to fund the foundation directly.

Armstrong has faced heavy criticism after the U.S. Anti-Doping Agency reported in October that the Olympic medalist used performance enhancing drugs when he won the Tour de France seven years in a row between 1999 to 2005.

Armstrong, a cancer survivor, founded Livestrong in 1997. In October he stepped down as chairman in order "to spare the foundation any negative effects as a result of controversy surrounding my cycling career."

Over the last nine years, Nike raised more than $100 million for Livestrong and sold 87 million signature yellow Livestrong bracelets, which is developed.

Livestrong is a nonprofit organization that supports people affected by cancer.

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