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Trek Bicycle Corp. drops Lance Armstrong as sponsor

Trek Bicycle Corp. drops Lance Armstrong as sponsor

By WTMJ News Team. CREATED Oct 17, 2012 - UPDATED: Oct 17, 2012

WATERLOO-  Lance Armstrong's fall from grace continues as a bicycling company based out of Waterloo, WI is cutting ties with the famed cyclist.

In a statement released to the Journal Sentinel, Trek Bicycle Corp. says in part, "Trek is disappointed by the findings and conclusions in the USADA report regarding Lance Armstrong. Given the determinations of the report, Trek today is terminating our long-term relationship with Lance Armstrong. Trek will continue to support the Livestrong Foundation and its efforts to combat cancer."

Trek's decision comes less than two months after saying they would stand by Lance Armstrong after the USADA vacated Armstrong's racing titles.

At least four companies have dropped Armstrong as a spokesperson, including: Nike, Anheuser-Busch and Giro Helmets.

Armstrong stepped down as chairman of his Livestrong cancer-fighting charity Wednesday morning.