Major sportswear company Nike has dropped seven-time Tour de France winner Lance Armstrong over doping accusations.
It said it was terminating its contract due to "seemingly insurmountable" evidence that Armstrong had participated in doping.
Armstrong, 41, announced earlier on Wednesday he would step down as chairman of his cancer charity Livestrong to spare the foundation any negative effects as a result of the controversy surrounding his cycling career.
A second sponser, Anheuser-Busch, announced it would not renew its relationship with Armstrong at the end of 2012, though the Budweiser brewer would continue to support the charity.
Last week the US Anti-Doping Agency released a report containing accusations of widespread doping by Armstrong and his teams.
The agency ordered 14 years of Armstrong's career results, including his seven Tour de France titles, to be erased. The cyclist has always denied doping.
