Lance Armstrong Fired from Nike, Steps Down as Charity Chairman

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It has all come crashing down for Lance Armstrong.

In the face of new drug charges and having been stripped of seven Tour de France titles, Armstrong was fired this week from his role as a Nike spokesperson.

"Due to the seemingly insurmountable evidence that Lance Armstrong participated in doping and misled Nike for more than a decade, it is with great sadness that we have terminated our contract with him," the company said in a statement.

Lance Armstrong Riding

Such evidence includes testimony from 11 ex-teammates who all allege Armstrong used performance-enhancing drugs.

Armstrong also announced that he is stepping down as the chairman of Livestrong, which has raised over $450 million in cancer research.

"To spare the foundation any negative effects as a result of controversy surrounding my cycling career, I will conclude my chairmanship," Armstrong said.

The decision came a week after the U.S. Anti-Doping Agency released a report outlining Armstrong's involvement in what it referred to as "the most sophisticated, professionalized and successful doping program that sport has ever seen."

Armstrong maintains his innocence.

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