Sponsors stand by Lance Armstrong Lance Armstrong has been stripped of his seven Tour de France titles following Usada's doping allegations Lance Armstrong's high-profile sponsors, including Nike and Anheuser-Busch, are standing by the professional cyclist despite official accusations of serial cheating throughout his 19-year career. Nike, RadioShack and Anheuser-Busch have all come out in support of Mr Armstrong in the wake of a 200-page US Anti-Doping Agency report, released last week, that implicated him in a ring that encouraged the use of banned substances and practices while he was on the US Postal Service cycling team. Mr Armstrong, who has been stripped of his seven Tour de France titles, has denied the allegations, although he did not challenge the USADA report and received a lifetime ban from professional cycling competition earlier this year. "Lance's primary sponsors have been incredibly supportive and have remained supportive throughout," said Bill Stapleton, Mr Armstrong's agent. Brands are looking for an authentic endorser and at the end of the day they depend on the authenticity of the athlete. Mr Armstrong is one of the world's highest paid athletes via endorsements, pulling in an estimated $15.3m from sponsors in 2011, with partnerships ranging from Michelob Ultra beer to Oakley sunglasses and Trek bicycles. His net worth is estimated at $125m, according to Bob Williams, chief executive of Burns Entertainment and Sports Marketing. Oakley and Trek did not respond to requests for comments. Many of Mr Armstrong's personal sponsors also support Livestrong, the brand associated with the Lance Armstrong Foundation. Livestrong has raised more than $470m. The organisation does not fund cancer research but works to "improve quality of life for members of the global cancer community." Its yellow wristband motif is now featured on everything from treadmills to investment portfolios. "We are saddened that Lance Armstrong may no longer be able to participate in certain competitions and his titles appear to be impacted," said Mary Remuzzi, Nike spokesperson. Lance has stated his innocence and has been unwavering on this position. Nike plans to continue to support Lance and the Lance Armstrong Foundation. Mr Armstrong has been a face of Nike since 1996 and was instrumental in the US sportswear company's expansion into cycling. He has appeared in multiple campaigns for the brand including a 2001 advertisement featuring footage of Armstrong having blood drawn for a drug test and challenging those who accused him of doping. The 30-second ad featured Mr Armstrong saying, "Everybody wants to know what I'm on. What am I on? I'm on my bike, busting my ass six hours a day. What are you on?" he says. The USADA report includes the allegation that Mr Armstrong had a suspicious test for EPO during the 2001 Tour of Switzerland. The report said there was "proof beyond a reasonable doubt that Lance Armstrong engaged in serial cheating through the use, administration and trafficking of performance enhancing drugs and methods." RadioShack, the US electronics retailer, also stood beside Mr Armstrong, although on Friday it ended a relationship with Johan Bruyneel, the former manager of Mr Armstrong's US Postal Service team. Mr Bruyneel, a former close associate of Mr Armstrong, was implicated in the USADA report and is facing a pending doping case. We recognise the serious nature of the situation and we are continuing to monitor these events closely as the process unfolds. RadioShack remains focused on our shared commitment with Livestrong and the fight against cancer," a RadioShack spokesperson said. Steve Centrillo, founder of smiths, a brand navigation agency, said Mr Armstrong's life story as a cancer survivor could help him escape from the doping controversy relatively unscathed. Lance has somehow or another become Teflon for a lot of people. He is known for what he did with his life off the bike," he said. Mr Centrillo said this situation and other recent scandals including golfer Tiger Woods's sexual indiscretions and baseball player Barry Bonds, convicted of perjury, will force brands to think twice before signing on an athlete. "Now there will always be a degree of nervousness that is going to be attached to these deals," he said Additional reporting by Emily Steel