Longtime Lance Armstrong sponsor Oakley has severed ties with the disgraced cyclist, who is accused of leading an extensive doping program on his teams.
The Foothill Ranch-based sunglasses retailer did not immediately join last week's rush of sponsors who denounced Armstrong after the United States Anti-Doping Agency stripped him of his seven Tour de France titles and banned him for life following doping allegations.
Instead, the company waited until Monday morning, when the International Cycling Union—the sport's governing body—agreed to stand by the USADA's findings.
"Based on [the International Cycling Union] decision today and the overwhelming evidence that USADA presented, Oakley has severed its longstanding relationship with Lance Armstrong, effective immediately," Oakley announced.
With Oakley's exit, Armstrong has lost all his sponsors, which had included such heavyweights as Nike, Anheuser-Busch, and 24-Hour Fitness.
The company said it will continue to support the Livestrong Foundation, the nonprofit Armstrong established in 1997 as he was completing treatment for cancer. Armstrong stepped down Wednesday from his position as chairman.
The cyclist had always denied doping. In August, he announced that he would no longer fight USADA's allegations.
Earlier this month, the agency released a report of more than 1,000 pages laying out evidence of what it called the "most sophisticated, professionalized and successful doping program that sport has ever seen."
Armstrong was once a "symbol of possibility," Oakley said in its announcement.
"We are deeply saddened by the outcome, but look forward with hope to athletes and teams of the future who will rekindle that inspiration by racing clean, fair and honest," the company said.
