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Lance Armstrong Resigns as Livestrong Chairman

Nike also severs relationship with controversial cyclist

Lance Armstrong attends the Team LIVESTRONG Challenge in Austin, Texas. Credit: Jay West/WireImage

Lance Armstrong has resigned as chairman of his Livestrong charity as the cyclist's doping saga continues, The Huffington Post reports. Minutes after Armstrong stepped down, Nike issued a statement severing its relationship with Armstrong "due to the seemingly insurmountable evidence that Lance Armstrong participated in doping and misled Nike for more than a decade." However, Nike will continue to support Livestrong.

"This organization, 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."

Armstrong did not earn a salary as chairman and will remain on the charity's 15-member board. Last week, the U.S. Anti-Doping Agency released a lengthy report detailing the doping allegations against Armstrong and his racing teams between 1999 and 2005, during which he won seven consecutive Tour de France titles.