Nike said it will continue to support the initiatives of Livestrong, a cancer nonprofit organization. Armstrong has stepped down as chairman of his Livestrong cancer-fighting charity so it can focus on its mission instead of its founder's problems.
The U.S. Anti-Doping Agency released a massive report last week detailing allegations of widespread doping by Armstrong and his teams when he won the Tour de France seven consecutive times from 1999 to 2005.
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