Following a statement made regarding Lance Armstrong’s Alleged $500,000 Cover-Up, Nike have decided to terminate the former athlete’s contract. Having been one of the leading names to collaborate with Nike over the past decade this makes for notable news, and below is the statement regarding the reasons.

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. Nike does not condone the use of illegal performance enhancing drugs in any manner.

Nike plans to continue support of the Livestrong initiatives created to unite, inspire and empower people affected by cancer.