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Nike cuts ties to Livestrong cancer charity

The Canadian Press

5/28/2013 1:22:59 PM

AUSTIN, Texas - Nike, which helped build Lance Armstrong's Livestrong cancer charity into a global brand and introduced its familiar yellow wristband, is cutting ties with the foundation.

The breakup was announced Tuesday by Livestrong officials.

According to Livestrong and Nike, the company will stop making Livestrong apparel after 2013, but will honour the financial terms of their deal until it expires in 2014.

Financial terms were not released.

The breakup is the latest fallout from the former cyclist's doping scandal.