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Nike is parting ways with Lance Armstrong in the wake of his doping scandal. The company issued this statement about the decision: "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." Ouch. Armstrong also just stepped down from his role as chairman of his charity Livestrong. [WWD]
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