Like a lot of star athletes, cyclist Lance Armstrong racked up many a product endorsement deal along with his big wins. But on Wednesdaya week after the U.S. Anti-Doping Agency published a report on allegations that Armstrong was part of a doping ringhis brand-backers started backing away from the seven-time Tour de France champ. Nike, Trek Bicycle, Easton-Bell Sports and a score of others all bid Armstrong and his tarnished image goodbye.
Endorsement agreements between companies and athletes can be high-risk, high-reward propositions. Corporations are banking on a positive association with the star. Thoughas the Armstrong case showsthere’s still plenty of room for things to go wrong.
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