Lance Armstrong dropped by sponsors Nike following 'insurmountable evidence' in USADA report that he doped The day after the USADA's report was published and sent to the International Cycling Union (UCI), Nike said: "We are saddened that Armstrong may no longer be able to participate in certain competitions and his titles appear to be impacted. However, on Wednesday the sportswear manufacture confirmed that they had performed a massive U-turn and would terminate Armstrong's lucrative contract. "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 statement said on Wednesday. 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. Earlier in the day Armstrong had announced that he would step down as chairman of his Livestrong charity. Armstrong, who was not paid a salary as chairman of the Lance Armstrong Foundation, will remain on its 15-member board. "This organisation, its mission and its supporters are incredibly dear to my heart," Armstrong said in a statement. Today therefore, to spare the foundation any negative effects as a result of controversy surrounding my cycling career, I will conclude my chairmanship.