Technically, Lance Armstrong "stepped down" from "Livestrong", the campaign to raise cancer awareness that he created.

But, in reality Armstrong, who was recently stripped of all seven of his Tour de France titles for doping violations, was given the pink slip by Nike for misleading the company for so long.

Moments after it was announced this afternoon that Armstrong stepped down from "Livestrong", the Nike company releases this press release to prove they've had enough:

Due to the seemingly insurmountable evidence that Lance Armstrong participated in doping and misled Nike for more than a decade, it is with great sadness that we have terminated our contract with him. Nike does not condone the use of illegal performance enhancing drugs in any manner.

Nike plans to continue support of the Livestrong initiatives created to unite, inspire and empower people affected by cancer.

Harsh news by a company that's already in hot water after an article that was released earlier this year detailing that Nike/Livestrong does absolutely nothing in the fight for cancer research.

Cheers to Nike for getting rid of a man who isn't media friendly, negative towards fellow cyclists, and who dragged the Nike brand in the dirt for so long.

The questions that remain: How can Nike recover from this? And, should Nike have waited this long to make this move?

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