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Nike ends contract with Lance Armstrong

Wednesday, 17 Oct 2012 | 8:41 AM ET

NEW YORK -- Nike is severing ties with famed cyclist Lance Armstrong, citing insurmountable evidence that he participated in doping and misled the company for more than a decade.

The clothing and footwear company said Wednesday that it was ending Armstrong's contract "with great sadness."

Nike Inc. said it will continue to support the initiatives of Livestrong, a cancer non-profit organization.

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