Lance Armstrong to Lose Tour de France Titles

The International Cycling Union won't appeal the U.S. Anti-Doping Agency's findings

   

It’s not getting better for Lance Armstrong. But he had to know there was no way it would.

In the wake of being dropped by Nike (NYSE:NKE) and having to step down as president of his Livestrong Foundation last week, Armstrong can now be stripped of his record-setting seven Tour de France titles. The International Cycling Union has chosen not to appeal the U.S. Anti-Doping Agency’s finding that Armstrong participated in doping activities.

The announcement opens the way for Tour de France leadership to take back the titles that Armstrong had won in the 1990s and 2000s. In the future, those races will list no winners rather than awarding the win to the second-place finisher.

Armstrong has denied the charges from the beginning but decided recently to no longer contest them. His final sponsor, Oakley, cut Armstrong loose today.

More stars fallen from grace:


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/lance-armstrong-to-lose-tour-de-france-titles/.

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