The foundation wasn't alone in benefitting from the relationship: Nike sold $150 million in Livestrong-branded products in 2012. Some of that was given over as royalty payments to the organization, but the apparel company still turned a profit on the products. The revenue, and the goodwill of being associated with the nonprofit, evidently did not outweigh the negativity of being associated with the disgraced Armstrong, who admitted to using performance enhancing drugs during his record seven Tour de France wins. Nike ended its official sponsorship of Armstrong in October 2012, after he was stripped of those Tour de France titles.
- Companies:
- BamBams
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.