Already an outcast in cycling after a massive doping report, Lance Armstrong absorbed hits much clos

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HEADLINE:Armstrong out as Livestrong head, loses sponsors CAPTION:Already an outcast in cycling after a massive doping report, Lance Armstrong absorbed hits much closer to home Wednesday: to his wallet and his heart. The AP's John Mone has the story from Armstrong's hometown. (Oct. 17) [Notes:SOURCE: AP] [[VOICE OVER] ONCE THE KING OF THE CYCLING WORLD, LANCE ARMSTRONG'S CROWN GROWS MORE TARNISHED BY THE DAY. THE SEVEN-TIME TOUR DE FRANCE WINNER RESIGNED AS THE CHAIRMAN OF HIS CANCER-FIGHTING CHARITY LIVESTRONG- [[SOT]] [[SUPER: DOUG ULMAN/CEO, LIVESTRONG] "he went before the board and offered his resignation to help preserve the work long term." [[VOICE OVER] ARMSTRONG IS STEPPING ASIDE TO MINIMIZE THE DAMAGE FROM A DAMNING REPORT FROM THE UNITED STATES ANTI-DOPING AGENCY OR USADA?WHICH BANNED THE CYCLIST FOR LIFE AND ORDERED HIS TITLES BE STRIPPED. ARMSTRONG WAS DOGGED FOR MORE THAN DECADE THAT HE USED PERFORMANCE ENHANCING DRUGS. THE LATEST DEVELOPMENT IS FURTHER VINDICATION FOR THOSE WHO KNEW HIM AND ACCUSED HIM OF CHEATING THE SPORT- [[SOT] [[SUPER: BETSY ANDREU/ FRANKIE ANDREU'S WIFE] "This is a great lesson to any athlete no matter how big you are that clean sport and the integrity of clean sport is so important for the athletes and most important, for our kids, so they know that if you're going to do something bad and cheat, you'll eventually get caught and pay the price for it." [[VOICE OVER]] BETSY ANDREU'S HUSBAND, FRANKIE RODE WITH ARMSTRONG ON THE UNITED STATES POSTAL SERVICE TEAM. HE WAS AMONG THE DOZENS WHO OFFERED UP INFORMATION THAT ARMSTRONG DOPED. [[SOT] [[SUPER: BETSY ANDREU/ FRANKIE ANDREU'S WIFE] "Lance is corrupt. You can't be associated with a foundation if you're corrupt." [[VOICE OVER] [LOCATOR: BEAVERTON, OR//NIKE HQ] SPONSORS HAVE STARTED DROPPING ARMSTRONG, THE BIGGEST AMONG THEM NIKE. IN A STATEMENT THE COMPANY SAID.. 'Due to the seemingly insurmountable evidence that Lance Armstrong participated in doping and misled Nike for more than a decade, it is with great sadness that we have terminated our contract with him. Nike does not condone the use of illegal performance enhancing drugs in any manner." [[VOICE OVER]] [[LOCATOR:NYC, STEINER'S OFFICE]] SPORTS MARKETING EXPERT BRANDON STEINER SAYS ARMSTRONG WILL HAVE A TOUGH TIME IN THE FUTURE EARNING MONEY AS A SPORTS CELEBRITY- [[SOT]] [[SUPER: Brandon Steiner, Steiner Sports Marketing ] "In this particular case there's just no game anymore. There's nothing else to be played. Everything that he's stood for is basically meaningless. And I think that I just don't see a comeback here. I don't see any relevance in his future as being a sports celebrity." [[VOICE OVER] THE MAN MAY BE LOSING ENDORSEMENT DEALS?BUT WILL CORPORATE SPONSORS DISTANCE THEMSELVES FROM THE FOUNDATION THAT BEARS HIS NAME? [[SOT]] [[SUPER: DOUG ULMAN/CEO, LIVESTRONG] "I think the fear or the worry for us is that there's so much work to be done. And there's so many people in need. For us to jeopardize that future is not responsible." [[VOICE OVER] THE CYCLIST IS DUE TO HOLD FUNDRAISERS AND PARTICIPATE IN A BIKE RIDE FOR HIS FOUNDATION THIS WEEK. THE SIGNS OF HIM ALL ARE AROUND AUSTIN, TEXAS?FROM HIS BICYCLE SHOP AND CAF? TO HIS FOUNDATION?.WHERE HIS SEVEN YELLOW TOUR DE FRANCE JERSEYS PROUDLY HANG AND MANY EMPLOYEES WEAR THE YELLOW ELASTIC BRACELETS SYNONOMOUS WITH LIVESTRONG. BUT ARMSTRONG IS STAYING OUT OF THE LIMELIGHT THAT ONCE SHONE SO BRIGHTLY ON HIM. JOHN MONE ASSOCIATED PRESS AUSTIN, TEXAS. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/c443e025f9971d104756b17cc2a5fad3 Find out more about AP Archive: http://www.aparchive.com/HowWeWork