It’s been an interesting week for Lance Armstrong after the U.S. Anti Doping Agency released a massive report last week–indicating the cyclist took illegal performance enhancing drugs when he won seven-straight Tour de France events. Armstrong has already been stripped of his medals and now it looks like he’ll be stripped of a major endorsement deal as well.

Nike announced on Wednesday their plans to part ways with Armstrong after 10+ years, due to the accusations made by the U.S. Anti Doping Agency. On top of losing this big endorsement deal, Armstrong also made the decision to step down as chairman of his Livestrong cancer-fighting charity to avoid any negative feedback that may have emerged for the organization’s choice to keep him around.

For an athlete that was as popular as Armstrong was, it’s a shame to see these type of things happen, but it’s difficult not to wonder which side is telling the truth. Despite all of the facts listed in the report, Armstrong continues to deny any involvement with the usage of these performance enhancement drugs–even though he decided not to put up a fight during the arbitration process.

Whether he’s telling the truth or not, the fact that Armstrong decided to step down as chairman makes it seem like he knows he’s guilty and it’s only a matter of time before the truth comes out. Then again, it’s understandable for Armstrong to consider the effect of the foundation with these allegations–so who knows what to think at this point.

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