Update: Oakley this afternoon said it was "reviewing its relationship" with Lance Armstrong in the following statement: "As we have stated in the past, Oakley does not approve in any way the use of illegal substances for enhancing performance in sports. Our policy with our athletes is to support them until proven guilty by the highest governing body of sport or court of law. We are reviewing the extensive report from the USADA, as well as our relationship with Lance, and will await final decision-making by the International Cycling Union. Anheuser-Busch, too, has dropped out. "We have decided not to renew our relationship with Lance Armstrong when our current contract expires at the end of 2012," said Paul Chibe, VP U.S. Marketing, Anheuser-Busch. "We will continue to support the Livestrong Foundation and its cycling and running events."
Citing "seemingly insurmountable evidence" that Lance Armstrong "misled Nike for more than a decade," the athletic products giant today fired the seven-time Tour de France winner. The move came only hours after its own name was dragged through the mud surrounding the scandal; on Tuesday, Nike vehemently denied a New York Daily News report that it aided Mr. Armstrong in covering up use of performance-enhancing drugs.