SRAM shifts away from Armstrong
On Thursday SRAM issued a short statement announcing that it was “officially terminating its product sponsorship agreement” with Lance Armstrong.
SRAM joins a host of other top brands in publicly disassociating themselves with a man who brought them big publicity. Nike, Trek, Michelob, FRS and others have all issued similarly terse statements in the wake of the US Anti-Doping Agency’s Reasoned Decision, a 200-page opus filled with numerous testimonies that Armstrong was at the center of a sophisticated doping program while winning seven Tours de France.
“SRAM is disappointed with the revelations that the USADA report has brought forth,” SRAM’s statement read.
Also following suit with other companies, SRAM pledged that it would continue its support of Livestrong — the cancer awareness entity owned by the Lance Armstrong Foundation — and the Bontrager-Livestrong development cycling team.
SRAM also used the opportunity to point out that while Armstrong had invested in the company in 2008, SRAM bought back those shares in June of 2011.