Nike cutting ties to Livestrong


May 28, 2013 at 1:57p.m.

Nike cutting ties to Livestrong

AUSTIN, Texas (AP) — 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.

The breakup was announced today by Livestrong officials.

According to Livestrong and Nike, the company will stop making Livestrong apparel after 2013, but will honor the financial terms of their deal until it expires in 2014.

Financial terms were not released.

The breakup is the latest fallout from the former cyclist’s doping scandal.