Nike cuts ties with Livestrong Foundation

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Nike has announced that production of its Livestrong line will end this year, with the sports manufacturing giant also cutting ties with the Livestrong Foundation.

Last October, Nike terminated its contract with Lance Armstrong because of the "seemingly insurmountable evidence that Lance Armstrong participated in doping and misled Nike for more than a decade," but said that it would continue to support the charitable foundation.

When announcing that the Livestrong line will discontinue following the release of products for the 2013 holiday season, Nike said it will honour the financial terms of its contract until it expires in 2014 while trumpeting the distribution of 87 million yellow wristbands highlighting the cause.

"We will continue to support the Livestrong Foundation by funding them directly as they continue their work serving and improving outcomes for people facing cancer," said the Nike statement.

Armstrong established the Livestrong Foundation in 1997 after he was diagnosed with testicular cancer. He resigned from the Board of Directors last fall, after the details of his doping usage had been made public and he had received a lifetime ban from cycling.

In March, Livestrong president Andy Miller told the group's annual convention that it had been a "difficult year" but remained optimistic for the future and it was a message that continued in the wake of this latest news.

"This news will prompt some to jump to negative conclusions about the Foundation's future," read their statement.

"We see things quite differently. We expected and planned for changes like this and are therefore in a good position to adjust swiftly and move forward with our patient-focused work.

"Because of our sound fiscal health, the Foundation is well-positioned to continue to grow our free services for cancer patients and survivors that improve quality of life and access to care."