Nike Drops Livestrong After Raising $100M For Cancer

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Nike Drops Livestrong After Raising $100M For Cancer

Lance Armstrong's spectacular recovery -- from testicular cancer to world domination in the sport of cycling -- made him an icon. His celebrity helped turned a silly yellow wrist band into a global symbol of resilliance. Now that his recovery's turned out to be less a testament to the human spirit and more a testament to using illegal chemicals to increase the amount of oxygen in your blood, those wristbands may be paying the toll along with him.

Armstrong was first sponsored by Nike in 1996 and over the years they've paid him tens of millions of dollars. The athletic company first partnered with Livestrong, Armstrong's cancer charity, in 2004. Lance's celebrity coupled with Nike's might turned the brand's wristband's into an international symbol -- and raised a ton of money. The charity generated roughly $500 million dollars from when it was founded in 1997, and at least $100 million of that was via Nike. 

Now that Armstrong has fallen from grace, it looks like the little yellow bands might go with him. Nike severed its ties with the cyclist last year and now they've announced that they'll stop making Livestrong apparel after the 2013 holiday season. While Nike will no longer sell Livestrong products, it's said it'll continue to directly contribute to Livestrong, though it's not clear how much the company intends to give.