25 Aug 2012

Nike to stick by Armstrong

6:40 am on 25 August 2012

Nike Inc plans to continue to support Lance Armstrong even after the seven-time Tour de France cycling champion is stripped of his titles.

Late on Thursday, Armstrong said he would no longer fight accusations from the US Anti-Doping Agency that he cheated throughout his career by using performance enhancing drugs.

"Enough is enough," said Armstrong in a statement.

The US Anti-Doping Agency announced on Friday it would strip Armstrong of his titles and ban him from competitive cycling.

Nike is a longtime supporter of Armstrong and Livestrong, his organization to help cancer survivors and raise money for cancer research.

Since 2004, Nike has helped Livestrong raise over $US100 million and created Livestrong. More than 84 million of the yellow wristbands have been distributed.