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Nike will no longer be producing any Livestrong product after this year's holiday season, the company announced yesterday.
The athletic wear company has partnered with the Livestrong Foundation—disgraced cyclist Lance Armstrong's cancer charity—on a collection of shoes, t-shirts, and other athletic gear for the past nine years, during which Nike helped raise more than $100 million for the foundation, the New York Times reports. Most of that was through the sale of 87 million $1 yellow rubber Livestrong bracelets.
Following a United States Anti-Doping Agency report that fingered Armstrong for doping throughout his career, Nike cancelled their endorsement deal with Armstrong last fall. Livestrong told the Times that Nike has agreed to continue to fulfill its corporate sponsor financial obligations to the charity through 2014, but will not renew the partnership.
· Nike Chooses to Sever Its Ties With Livestrong [NYT]