23 Oct 2012

Sponsor Oakley drops Armstrong after 25 years

12:47 pm on 23 October 2012

The Californian sunglasses maker Oakley has ended its sponsorship of Lance Armstrong that began 25 years ago when he was a teenage triathlete, following the American being officially stripped of his seven Tour de France titles over a doping scandal.

Oakley became the latest sponsor to drop Armstrong after the International Cycling Union ratified the United States Anti-Doping Agency's sanctions against the 41-year-old, banning him for life.

Dutch bank Rabobank ended its sponsorship of professional cycling last week, and there are fears the Armstrong case could lead to a broader flight from the sport by its commercial backers.

However, Oakley says it will continue to support cycling as the sport tries to put its latest doping scandal behind it.

Oakley sponsors a number of leading cyclists, including Bradley Wiggins, who this year became the first Briton to win the Tour de France.

The company says it will also continue to support the Livestrong cancer support charity founded by Armstrong, himself a cancer survivor.

Dallas insurance company SCA Promotions is demanding the return of millions of dollars in bonuses paid to Armstrong.

A SCA Promotions spokesperson, Jeffrey Dorough, says as a result of the decision from the UCI, it's now inappropriate for Armstrong to retain any bonus payments made by the firm.

Dorough confirmed that the SCA was seeking just over $9 million, which was paid out to Armstrong after a 2006 arbitration proceeding, which included a $6 million bonus as well as legal fees and interest.