Cycling: Oakley becomes latest sponsor to cut ties with Lance Armstrong
Lance Armstrong lost the support of another major sponsor today after Oakley severed their ties with the disgraced cyclist.
The brand confirmed in a statement they were ending their relationship with the Texan in the wake of the International Cycling Union's (UCI) decision to accept the findings of the United States Anti-Doping Agency's (USADA) investigation and strip him of his seven Tour de France titles.
Oakley have followed in the footsteps of Nike, Trek and Anheuser-Busch, brewers of Budweiser, who have all withdrawn their support for Armstrong following the doping revelations.
An Oakley statement read: "Based on UCI's decision today and the overwhelming evidence that USADA presented, Oakley has severed its long-standing relationship with Lance Armstrong, effective immediately.
"When Lance joined our family many years ago, he was a symbol of possibility. We are deeply saddened by the outcome, but look forward with hope to athletes and teams of the future who will rekindle that inspiration by racing clean, fair and honest.
"We believe the LIVESTRONG Foundation has been a positive force in the lives of many affected by cancer and, at this time, Oakley will continue to support its noble goals."
Armstrong has stepped down from his position as chairman of his cancer charity.